Danfoss announces on its corporate website that “After we suspended our commercial operations in Russia on February 28 and in Belarus on March 4, we have continuously assessed the situation. Considering the effects of sanctions, supply chain disruptions and other logistical challenges, we have decided to initiate a controlled exit from Russia and Belarus".

As a result, the Company has started the exit process and is evaluating various options.

Danfoss has been operating in Russia since 1993. "Our teams in Russia and Belarus are exceptional and this makes this decision much more difficult," says the Company, concluding that although the decision was made reluctantly, the current situation leaves no other option.