Xerox Holdings Corporation, an American company that sells print and digital document products and services in more than 160 countries, has announced that it is leaving Russia.
In the company’s official statement, Xerox stated that the decision to exit the Russian market is related to the ongoing Russian invasion of Ukraine and subsequent US government-issued sanctions against Russia.
“Xerox is now exiting its remaining operations in Russia and divesting the business to local management through the sale of its Russian subsidiary,” according to the company’s statement.
The company reminded that it limited its operations in Russia at the onset of the Russian invasion of Ukraine. These limited operations included business with only specific clients and partners in compliance with US sanctions against Russia. Xerox issued the following statement regarding the ongoing Russia’s war of aggression against Ukraine in March 2022:
“We continue following the devastating conflict in Ukraine and are supporting humanitarian efforts while doing everything we can to keep our employees in the region safe. Using our Employee Relief Fund, we’ve provided cash grants to each employee in Ukraine. Xerox has also provided additional contributions to the Red Cross and Save the Children, our international relief partners.”
In March 2022, Xerox announced that it would suspend the supply of products to Russia.
According to Interfax, the Russian news media, Xerox (CIS) LLC will continue to operate in Russia as an independent organization, will change its name in the near future, and will not be affiliated with Xerox Corporation. The terms of the deal are not disclosed.
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- Nearly year after Ukraine invasion, only 17 of 122 top companies have exited Russia – watchdog
