Ericsson’s CEO says reports on Russian exports are misleading

Ericsson AB’s Chief Executive Officer Borje Ekholm said a recent report highlighting applications to provide services and software to Russia was “misleading.”

The Swedish 5G network maker was granted seven out of 12 applications to circumvent export sanctions against Russia since the start of the war in Ukraine up until the middle of August, Radio Sweden reported last week, citing permits from the relevant authority in Sweden.

“Western governments are clear on the importance of maintaining internet access and the flow of information for the people of Russia,” Ekholm said in a conference call on Monday, stressing that the deliveries were in compliance with the current sanctions.

Ekholm said the exemptions were “limited to supporting the civilian networks” and “consistent with our humanitarian obligations.” 

On Friday, the share price dropped to its lowest level since 2020 following the report.

Ekholm also said the exemptions would allow Ericsson to orderly wind down its businesses in Russia “including taking care the safety and interest of our employees in Russia and the closing of outstanding obligations.”