German enterprise software maker SAP stops its activities in Russia, according to a press release from the company, APA reports citing the company's statement.
“We are stopping business in Russia due to sanctions and, in addition, we are suspending all sales of SAP services and products in Russia,” the statement said.
SAP SE is a German company that produces software for organizations. The headquarters is located in Walldorf.
On February 24, Russian President Vladimir Putin announced the start of a special military operation to demilitarize Ukraine. In response, Western countries announced new sanctions. Since then, VTB, Sovcombank, Novikombank, Otkritie Bank, Promsvyazbank, Rossiya Bank have fallen under blocking sanctions of foreign states. In addition, the US imposes sanctions against the Central Bank and the Russian National Wealth Fund, which deprive them of access to assets in the US or denominated in US dollars.
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