Michelin, Nokian first tyre companies to quit Russia

Michelin plans to hand over its Russian activities to a new entity under local management

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They said it would quit the country

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the first Western tyre makers to give up doing business in Russia.

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The French company, whose Western rivals in Russia include Italy's Pirelli

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said it had become impossible to resume

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Foreign companies seeking to exit Russia over the war in Ukraine

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That has encouraged some businesses to accelerate their departure.

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