Nokia to stop doing business in Russia
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 February 24 invasion of Ukraine and after unprecedented 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 quitting Russia was the only option.
"We just simply do not see any possibilities to continue in the country under the current circumstances," Chief Executive Pekka Lundmark said in an interview.
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