Stockholm, Apr. 11, (dpa/GNA) - Swedish telecoms provider Ericsson said on Monday that it has suspended all of its affected business in Russia indefinitely, as Moscow’s war on Ukraine continues.
As a result, the Group said it will post a SEK 0.9 billion ($90 million) provision for the first quarter of 2022 for impairment of assets and other exceptional costs without including staff redundancy cost.
Ericsson also said that it will place its employees in Russia on paid leave.
Western businesses are hurriedly departing from Russia or reducing their activities there due to sanctions imposed as Moscow continues its invasion of Ukraine.
GNA