STOCKHOLM — Sweden's Volvo, the world's second biggest truck maker, has put a partnership with Russian battle-tank maker Uralvagonzavod on hold due to increasing tensions between Ukraine and Russia, Volvo said.
The early-stage partnership between Volvo's trucks business in France and Uralvagonzavod (UVZ) was announced in September last year when the two companies said they would jointly develop a new armoured vehicle.
"We have paused (the discussions) and thereby pushing the cooperation ahead in time. And the reason for that is the situation in Crimea, which we see as an uncertainty factor," a Volvo spokeswoman said Wednesday.
She said Volvo needed time to discuss the issue with the French authorities, and that no decision had been taken to end the partnership with UVZ.
The West has imposed sanctions on Russia for its annexation of Crimea, which has become the worst East-West confrontation since the Cold War ended two decades ago.
Ukraine has been in turmoil since late last year when President Viktor Yanukovych put off closer relations with the European Union in favor of closer ties to Russia, provoking mass protests.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
