Ericsson suspends business in Russia, puts staff on paid leave

FILE PHOTO: An Ericsson logo is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song

STOCKHOLM (Reuters) - Ericsson is suspending its business in Russia indefinitely and has put employees on paid leave, six weeks after the Swedish telecom equipment maker started a review of the impact of Western sanctions on its operations.

The company said on Monday it would record a 900 million crown ($95 million) provision in the first quarter for impairment of assets and other exceptional costs related to the move.