Czech drone maker withdraws from Russia amid sanctions concerns
WARSAW, Poland — Amid increasing concern over Russia’s invasion of Ukraine, Czech drone manufacturer Primoco UAV has announced the company will halt its activities in the Russian market and sell its local subsidiary AO Primoco BPLA.
In a statement, the company cited various difficulties related to Western sanctions against Russia as the reason why it decided to shut down its operations there as of Jan. 31.
“The only reason for this decision is the sanctions regime against the Russian Federation and the impossibility of obtaining the export license [the company] needed to operate its drones” in Russia, Primoco UAV said.
Ladislav Semetkovský, the chief executive of Primoco UAV, said that only this year the Russian offshoot lost contracts worth 1 billion rubles ($12.6 million) due to unfavorable political conditions.
https://www.yahoo.com/news/czech-drone-maker-withdraws-russia-203020049.html
