After pausing its business operations in Russia on February 28 and in Belarus on March 4, Danfoss has continuously evaluated the situation. Considering the effects of sanctions, supply chain disruptions and other logistical challenges, the company has decided to initiate a controlled exit from Russia and Belarus.
Accordingly, Danfoss has initiated the process, and they are considering various options. The company continues to prioritize the safety and wellbeing of its Russian and Belarussian teams and their families.
Danfoss has been operating in Russia since 1993.
"Our teams in Russia and Belarus are outstanding, and that makes this decision so much harder. We regret the decision, but in the current situation, we do not see any other option.", noted in the company press release.
Danfoss continues to monitor the situation and to act in full compliance with all sanctions as they develop.
The company's number one priority remains the safety and security of its employees and their families.
