Nokia will completely cease operations in Russia

The stand of the company Nokia. Archive photo

The Finnish Telecom equipment manufacturer Nokia plans to close most of its business in Russia, according to Reuters.

“To the end of the year, the overwhelming majority of our employees will go from Nokia, and we will liberate all our offices,” said a company representative.

He added that an official presence in the country will continue until after the legal closing time.

Also on the withdrawal of the Russian market has announced the Swedish telecommunications equipment manufacturer Ericsson. The company intends to end of the year to close its office in Russia and reduce all employees. Ericsson confirmed that they would curtail activity in the country as the performance obligations in contracts with customers.

With the beginning of the operation in the Ukraine many Western companies have suspended operations in Russia. A number of companies announced a complete withdrawal from the Russian market. The U.S. government and the countries — allies of America entered new sanctions against Moscow, began to sound louder calls to abandon the supply of energy resources from Russia. However, the violation of supply chains has led to economic problems in Europe and the USA, primarily to higher prices for food and fuel.

The Kremlin has called the sanctions economic war, the like of which was not. The authorities stressed their readiness to such a development and assured that he will continue to fulfill social obligations. The Central Bank takes measures to stabilize the situation on the currency market. Also, the authorities transferred the payment for gas unfriendly countries for rubles. In addition, the government has prepared a plan to counter the limitations, including about hundreds of initiatives. The volume of investments will amount to about a trillion rubles.