China News Service, June 15. According to Reuters and Agence France-Presse, Swedish furniture giant IKEA announced on the 15th local time that the company will "further reduce" its business in Russia and Belarus.
On March 3, local time, customers walked into the IKEA store in Moscow, Russia.
"Businesses and supply chains around the world have been severely impacted, and we do not see a return to operations in the short term," IKEA's parent company, Ingka Group, reportedly said in a statement.
Ikea said it plans to sell four of its factories in Russia and close its offices in Moscow and Minsk.
IKEA also said that the company's retail business in Russia is still suspended.
But it added, "We are planning to sell household items in our warehouses to employees and customers, and the schedule will be announced soon."
Earlier in March, IKEA announced that it was suspending its operations in Russia and Belarus.