Air Freight News

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.”

Bloomberg
Bloomberg

{afn_job_title}

© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).

Similar Stories

China scraps tariffs on Australian wine as relations improve

China lifted its punitive tariffs on Australia’s wine exports, signaling an end to a three-year campaign of trade pressure on Canberra and raising hopes for a revival of the billion-dollar…

View Article
US is asking allies to tighten servicing of chip gear in China

The US is asking allies to impose more restrictions on maintaining chipmaking equipment in China as the Biden administration seeks to further thwart Beijing’s ambition to build cutting-edge semiconductors.

View Article
France delays new EU-Canada trade deal vote after Senate setback

The French government will delay holding another vote on the European Union’s free-trade deal with Canada, after an embarrassing setback in the Senate.

View Article
China ‘very close’ to ending Australia wine tariffs, business chief says

The Chinese government is “very close” to lifting the heavy tariffs on Australian wine imports, a business lobby said, while tempering expectations about all producers returning to the market after…

View Article
https://www.ajot.com/images/uploads/article/China_soybean_chart.jpg
Gap in China’s soybean trade casts doubt on data reliability
View Article
https://www.ajot.com/images/uploads/article/White_corn.jpg
El Nino may see first S. Africa white-corn import since 2017
View Article