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But in a statement on April 8 last year, the company said: "Due to recent developments, Acer has decided to suspend its business in Russia." Asked about subsequent exports to Russia via Swiss subsidiary Acer Sales International SA, Acer in Taiwan said in a statement that "we strictly adhere to applicable international regulations and trade laws regarding exports to Russia". Acer did not say why it continued shipping its goods to Russia despite saying it would suspend business there. Reuters was unable to establish where some Acer goods that can still be found on sale in Russia had originated from nor when they had arrived in the country. There were no deliveries of the newly prohibited items by Acer to Russia from Switzerland after that date.

Persons: Dell, Artem Zhavoronkov, Acer, Filipp Lebedev, Gleb Stolyarov, Ben Blanchard, Gabrielle Tétrault, Farber, Mike Collett, White, Kirsten Donovan Organizations: Reuters, Dell, HP, Acer, Russia, European Union, Acer Sales International SA, PC, IDC Russia, Nordic Star, Economy Ministry, Economic Affairs, Russia's Ministry of Industry, Trade, Thomson Locations: Taiwan, Russia, Ukraine, Acer's, Switzerland, Swiss, St . Petersburg, Japan, Bioggio, WhatsApp, Switzerland's, Tbilisi, Taipei, Geneva

☆ Japan's Toyota hands St Petersburg plant over to Russian state
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

"Toyota's production site in St Petersburg has... been transferred to the state," Russia's Ministry of Industry and Trade said in a statement. The company said in September it had decided to stop vehicle production in Russia due to the interruption in supplies of key materials and parts. "Toyota confirms that it has concluded the transfer of its vehicle production plant to NAMI effective from March 31, 2023," Toyota said in a statement. Neither party disclosed a fee for the transaction, and Toyota declined to give any further details of the deal. NAMI, Russia's Central Automobile and Engine Research and Development Institute, has already taken plants from Renault and Nissan.

☆ Russian firm says it closes deal to buy IKEA factory
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

IKEA halted all retail and production operations in Russia soon after Moscow sent troops into Ukraine on Feb. 24, along with scores of other Western companies. "The process of concluding the deal was not easy and quite lengthy," Invest Plus owner Vadim Osipov said in a statement, thanking all parties involved - IKEA, Russian and Swedish regulators, and Russia's Ministry of Industry and Trade. Sales by Western companies have been complicated as deals involving firms from so-called unfriendly countries - those that imposed sanctions against Russia - need approval from a government commission. Russia's industry ministry in February said that Slotex and lumber producer Luzales would buy the IKEA plants. "Our goal is to return the highly popular and quality production of the Novgorod factory to Russia's furniture market as quickly as possible," Osipov said.

☆ Board of Russia's AvtoVAZ approves $585 mln in 2023 investment programme - RIA agency
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

Dec 27 (Reuters) - The board of directors of Russian top carmaker AvtoVAZ approved the firm's 2023 investment programme for just under 40 billion roubles ($585 million), Russia's state news agency RIA reported late on Monday. "Yes, it has been approved," RIA quoted AvtoVAZ president Maxim Sokolov as saying. Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to the Russian state for reportedly just one rouble ($0.0165) earlier this year, but with a six-year option to buy it back. Earlier in December, Russia's Ministry of Industry and Trade of the Russian Federation reported that the board of directors of AvtoVAZ approved the company's production plan for 2023 at the level of 401,000 vehicles, RIA said. ($1 = 68.3500 roubles)Reporting in Melbourne by Lidia Kelly; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

[1/3] Russian Foreign Minister Sergei Lavrov and his Indian counterpart Subrahmanyam Jaishankar attend a news conference following their talks in Moscow, Russia, November 8, 2022. India is keen to boost trade in this way, said the source, as it tries to narrow a ballooning trade deficit with Russia. During the Moscow visit, Jaishankar said India needed to boost exports to Russia to balance bilateral trade that is now tilted towards Russia. The list of items from Russia, which runs to nearly 14 pages, includes car engine parts like pistons, oil pumps and ignition coils. India is hoping to boost its exports to nearly $10 billion over coming months with Russia's list of requests, according to the government source.

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