By Natali Moss
"We are working on a controlled exit from the Russian market. It provides for the sale of our business assets in Russia, such as Kaluga plant. We are here at an advanced stage of the sale process, but the regulatory permits necessary to ensure the successful completion of the agreement have not yet been received" , - said Nikolai Setzer, chairman of the board and the CEO of Continental.
The capacity of the Russian enterprise is about 4 million tires a year, there were tires under the brands of Continental, Gislaved and Matador. Continental suspended Kaluga due to Russian aggression against Ukraine and stopped supplying its products to Russia in March 2022. On March 3, the US government stated that in Russia it will be impossible to buy smartphones more expensive than $ 300.
New sanctions can affect all the devices with American electronic filling, not just those produced in the US. Also we will remind that in Russia now it is impossible to use "hostile" software. Roskomnadzor has already sent a special warning to all government agencies and organizations of the country.
By the way, Russia's war against Ukraine forced the European community to impose international sanctions against the aggressor to deprive the Russian economy with the opportunity to make money to continue hostilities. As a result, already in 2023, the revenues of the Russian Federation from oil and gas exports will be reduced by 50% compared to 2022 since last year, to the mark of $ 40 billion. for the quarter.
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