One of the world’s largest manufacturers of tires and electronics, the German company Continental AG, is closing its business in Russia, said its CEO Nikolai Setzer. According to him, the main reason for this decision is the war in Ukraine.
The Insider notes that a year ago, with the start of a full-scale invasion of the Russian army into Ukrainian territories, Continental AG announced a “suspension” of its activities.
In total, since February last year, several hundred corporations and brands have announced the closure or suspension of business in Russia. At the same time, according to some economists, we are talking about only nine percent of the total number of foreign companies.
