Western companies announced plans to leave Russia after it sent tens of thousands of troops into Ukraine last February. IKEA hopes to finalize terms early this year
Sales have been complicated as deals involving companies from so-called unfriendly countries – those that imposed sanctions against Russia – need approval from a government commission.
Brand owner Inter IKEA Group has previously said it was selling its four production units in Russia, in Tikhvin, Novgorod and Vyatka. “The sales process is subject to a mandatory approval process,” Inter IKEA said on Thursday. “This process is between the authorities and applying companies.”
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