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Volvo Suspends All Car Shipments to Russia Over Kremlin’s Attack on Ukraine

Volvo has announced that it will suspend all car shipments to the Russian market until further notice, thus becoming the first global carmaker to do so. Their reason is, of course, the Kremlin’s attack on Ukraine, which continues to generate massive sanctions.
Volvo suspends car shipments to Russia 6 photos
Volvo suspends car shipments to RussiaVolvo suspends car shipments to RussiaVolvo suspends car shipments to RussiaVolvo suspends car shipments to RussiaVolvo suspends car shipments to Russia
In a statement via email, the Swedish brand said that it had made this decision because of “potential risks associated with trading materials with Russia, including the sanctions imposed by the EU and US.”

Then came the big announcement: “Volvo Cars will not deliver any cars to the Russian market until further notice,” said Volvo.

Meanwhile, a company spokesman stated that the carmaker was previously exporting vehicles to Russia from plants not only in Sweden, but also China and the United States, reports Reuters. Last year alone, Volvo sold roughly 9,000 passenger cars in Russia.

Yesterday, Swedish truck maker AB Volvo also decided to halt all production and sales in Russia, for similar reasons. Then there was German truck brand Daimler Truck, who stated that it would freeze its business activities in Russia effective immediately – including its cooperation with Russian truck company Kamaz.

Last week, automotive companies such as Volkswagen, Renault and even tire firm Nokian Tyres, had outlined plans to either shut down or shift manufacturing operations following the Russian armed forces' attack in Ukraine. If things carry on as they have, it’s safe to assume that all global automotive “players” will follow in Volvo’s footsteps, and sooner rather than later.

However, by far the most significant decision by a Western company with regards to these sanctions was taken this past weekend by BP (British Petroleum), who abandoned its stake in Russian oil giant Rosneft, marking the end of three full decades of operating in Russia. The latter now stands abandoned on several economic fronts, as well as by major international sporting governing bodies such as FIFA, UEFA and the FIA.

 
 
 
 
 

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