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Volvo says Ukraine war will hit operating income

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All of the company’s sales, service and production in Russia have been suspended via IrishTimesBiz

since the war started and sanctions were imposed, according to a statement on Friday. In 2021, about 3 per cent of Volvo’s net sales stemmed from Russia.

Volvo has total assets worth about 9 billion kronor related to Russia, of which 6 billion kronor are classified as cash items, the company said. – Bloomberg

 

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