Nokia's Pullout From Russia Amid Ukraine War Is One Step More Than Rivals
NDTV
Nokia Pullout From Russia: Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of Ukraine and after Western sanctions against Moscow.
Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson, which said on Monday it was indefinitely suspending its business in the country.
Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of Ukraine and after Western sanctions against Moscow.
While several sectors, including telecoms, have been exempted from some sanctions on humanitarian or related grounds, Nokia said it had decided that quitting Russia was the only option.
"We just simply do not see any possibilities to continue in the country under the current circumstances," CEO Pekka Lundmark said in an interview.
