By Jaime Llinares Taboada


Volvo AB said Tuesday that it is considering options including partial divestments to adapt to the situation in Russia.

The Swedish company told Dow Jones Newswires that it isn't possible for it to operate in Russia under the current circumstances and has made the decision to adapt by scaling down its operations in the country and reducing the number of staff.

"It is our ambition to reduce our business in a responsible manner and we are considering different options, including divesting parts of the business," a spokesperson said.

Volvo suspended all sales, service and production in Russia since sanctions were imposed.


Write to Jaime Llinares Taboada at; @JaimeLlinaresT


(END) Dow Jones Newswires

July 05, 2022 12:32 ET (16:32 GMT)

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