Schneider Electric suspended investments and deliveries to Russia and Belarus

The French Schneider Electric announced that since February 24 it has suspended investments and deliveries in the framework of new projects in Russia and Belarus. These measures were taken against the background of sanctions imposed by the West in response to the Russian military operation in Ukraine. Schneider Electric said in a press release that the company follows all sanctions imposed in the jurisdictions in which it operates. Schneider Electric said it also “remains committed to its Russian employees.” The company’s website says it has already invested more than $1 billion in Russian manufacturing facilities. More than 60% of the products supplied by Schneider Electric to Russian customers are produced in Russia at its five factories (in Mari El, Leningrad Region, Samara). On February 24, Vladimir Putin announced a military operation to “demilitarize” and “denazify” Ukraine. Western countries responded by imposing several packages of sanctions, and foreign companies began to massively suspend work in the Russian Federation. Among them – General Electric (with the exception of … .

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