Losses of Volvo Group because of leaving from the Russian market made $420 million

The Swedish autoconcern Volvo Group estimated losses because of leaving from the Russian market at $420 million Company suspended activity to Russian Federation on February 28 against the beginning of military operation in Ukraine. "In the first quarter 2022 reserves for the sum about 4 billion Swedish kronur (over $420 million — newspaper "Kommersant") which will have negative impact on operating profit, first of all — in a segment of financial services will be created" — is spoken in the statement of companies. By estimates of companies, total amount of assets of Volvo Group, connected with Russian Federation, makes about 9 billion Swedish kronur (more than $950 million — newspaper "Kommersant"), from which...