Swiss telecoms firm Ericsson is suspending its operations with customers in Russia due to the ongoing conflict in Ukraine.
The telecom equipment maker announced in late February that it would halt all deliveries of its products to Russia.
“In the light of recent events and of European Union sanctions, the company will now suspend its affected business with customers in Russia indefinitely,” the company said in a statement.
The firm added that it is engaging with customers and partners regarding the indefinite suspension of the affected business.
“The priority is to focus on the safety and well-being of Ericsson employees in Russia and they will be placed on paid leave,” it said.
As a result, Ercisson noted it would record a SEK 0.9 b. provision in the first quarter of 2022 for impairment of assets and other exceptional costs, though no staff redundancy costs were included.
Ericsson is the latest to join a growing number of tech companies such as Microsoft, Oracle, Apple and other firms that have stopped product sales in Russia.
