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Nissan pulls out of Russia, sells all assets to state for 1 Euro

Posted on AllSides October 11th, 2022
From The Right
REUTERS/Brendan McDermid / Reuters Photos

The Nissan car manufacturer sold all of its assets in Russia to the Russian government for a single Euro on Tuesday.

Nissan is only the latest major company to flee Russia following Russian President Vladimir Putin's invasion of Ukraine in February. The deal costs Nissan roughly $687 million, but the company believes it will not affect the earnings forecast for the fiscal year, according to Reuters.

Nissan's move comes months after the company cut business ties with Russia in March, suspending production at its plant in St. Petersburg. The company has roughly 2,000...

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