Many companies increasingly abandoning its operations inside Russia. Ericsson, a Swedish telecommunications corporation, has announced that it will cease operations in Russia for now.

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“Ericsson halted any shipments to Russian clients in February. In view of current developments and EU penalties, the management has managed to halt all affected activity with Russian clients temporarily. Ericsson said that in a comment that it has “engaged alongside clients and stakeholders concerning its extended absence of the company can keep.”

Workers inside Russia will really be kept on paid vacation, according to the company.

During the first quarterly of 2022, Ericsson stated it will register a 900 million Swedish krona ($95 million) allowance for intangible amortization and some other extraordinary expenses.

Societe Generale, a French finance and insurance conglomerate, has approved the acquisition of its whole ownership in Rosbank as well as its Russian policy affiliates to Capital interros, a previous investor of Rosbank.

In a public statement, the company stated that it might leave Russia “in an effective and orderly manner, ensuring continuity for its employees and clients.”

The deal is still awaiting permission from the board governmental and administrative agencies. “This activity should be closed in the next weeks,” , adding that a write-off of roughly 2 billion euros ($2.2 billion) would result” Societe Generale said.

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