Swedish truck maker AB Volvo (VOLVb.ST) has halted all its production and sales in Russia due to the Ukraine crisis, the company has confirmed. Volvo Group generates roughly 3% of its sales in Russia and has one factory in the country.
“We now have a bit more clarity on sanctions and security in the region… this means all operations in Russia end,” said a company spokesperson, adding that the measures would apply until further notice.
