Home World News War: Mercedes-Benz PULL OUT Of Russia

War: Mercedes-Benz PULL OUT Of Russia

2
Russia-Ukraine War: Mercedes-Benz PULL OUT Of Russia

Mercedes has become the latest Western company to pull out of Russia, following the invasion of Ukraine in February.

The German-based firm stopped manufacturing in and exporting to the country in early March.

But now it says it will withdraw from the Russian market and sell shares in its subsidiaries to a local investor.

READ ALSO:   Russia Considers Leaving The WHO And World Trade Organisation

Meanwhile, Ford confirmed on Wednesday that it had finalised a deal to exit the Russian market as well.

The firm had announced a full suspension of its operations in Russia in March. It has now sold its 49% stake in the Sollers-Ford joint venture, although it has the option of buying the shares back within five years “should the global situation change”.

READ ALSO:   Ethiopians Rush To Fight For Russia Over Rumours Of $2000 Reward

Japan’s Nissan left Russia earlier this month, following the same move from Toyota and Renault.

Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here