The Swedish-Swiss company ABB leaves the Russian market

The Swedish-Swiss company ABB , specializing in the field of electrical engineering and power engineering, is leaving the Russian market. This was reported by Kommersant with reference to a press release from the company.

Previously, the company stopped accepting new orders, but until recently continued to fulfill "a small number of existing contractual obligations with local customers" that do not contradict the sanctions against the Russian Federation.

On the same day (July 21), it also became known that Wärtsilä, a manufacturer of equipment for the marine and energy industries from Finland, had completed its exit from the Russian market. Its Russian divisions were acquired by local management.

In mid-July, President of Kazakhstan Kassym-Jomart Tokayev instructed the government to create conditions for the relocation to the country of foreign companies that have left the Russian market.

“Every second out of almost 1,400 large foreign companies has suspended its activities or completely left the Russian market. The government should create favorable conditions for their relocation to Kazakhstan. This will give us good opportunities to increase the production of goods of medium and upper processing,” Tokayev said during an extended government meeting.

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