Truck maker AB Volvo halts production in Russia

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FILE PHOTO: The logo of Volvo is seen on the front grill of a Volvo XC40 SUV displayed at a Volvo showroom in Mexico City

STOCKHOLM -Swedish truck maker AB Volvo has halted all its production and sales in Russia due to the Ukraine crisis, the company said on Monday.

Volvo Group generates roughly 3% of its sales in Russia and has one factory in the country.

“We now have a bit more clarity on sanctions and security in the region… this means all operations in Russia end,” a company spokesperson told Reuters, adding that the measures would apply until further notice.

Russian forces invaded Ukraine last week, confirming the worst fears of the West with the biggest attack by one state against another in Europe since World War Two.

(Reporting by Helena Soderpalm, editing by Anna Ringstrom, Editing by Louise Heavens)