Denmark's Danfoss exits Russia and Belarus because of the Ukraine war

Danish industrial company Danfoss has decided to exit Russia and Belarus in the wake of the war in Ukraine, it said on Friday.

Danish industrial company Danfoss has decided to exit Russia and Belarus in the wake of the war in Ukraine, it said on Friday. Danfoss, which among other things makes products for air conditioning, refrigeration and heating, employs around 1,300 people and has two factories in Russia where it has been present since 1993.

"Considering the effects of sanctions, supply chain disruptions and other logistical challenges, we have decided to initiate a controlled exit from Russia and Belarus," it said in a statement, adding that it was now considering various options. The Danish firm had already paused operations in the two countries because of the Russian invasion of Ukraine, which the Kremlin calls a "special military operation".