Electrolux leaves Russian market

The Swedish household appliances producing company Electrolux, including its business division, Electrolux Professionals, announced the decision to cease operations in Russia and transfer the business to local management.

The news was reported by TASS on July 11, citing the company's statement.

“After an assessment was made that it is impossible to continue doing business in Russia in the current situation, Electrolux Professional ceases its activities in the country,” the statement says.

The withdrawal from the Russian market is expected to cost Electrolux Professional 35 million Swedish kronor (about $3.3 million).