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Nissan came out by selling a multi-million dollar business in Russia for just 1 euro

Japanese automobile company Nissan has decided to wind up its business with Russia. The company is selling its business to Russian government company NAMI for only one euro. This means that Nissan will have to suffer a loss of about $ 69 million.

Due to the war between Ukraine and Russia, many international companies are facing difficulties in doing business in Russia. Some companies have closed their business because of this. Nissan was forced to stop production in Russia a few months ago. Nikkei Asia claims that another major Japanese automobile company Mitsubishi is also Russia Considering leaving. Nissan has decided to hand over its business, including its factory in St. Petersburg, to NAMI. Earlier, French company Renault, which had a joint venture with Nissan, sold a major stake in a Russian car manufacturer.

Nissan stopped production at its St Petersburg factory in March due to supply chain disruptions. Many countries have also imposed sanctions on Russia for attacking Ukraine. The European Union (EU) recently completely banned all cryptocurrency transactions involving Russia.

A post from the EU said, “Existing restrictions on crypto assets have been tightened and all crypto wallets, accounts and custody services linked to Russia have been banned. There will be no amount limit for this.” ” of the EU Regulators It says that the purpose of these sanctions against Russia is to stop the supply of critical components to the Russian military and industry. Recently, the Russian government allowed the use of virtual digital assets for payments abroad. Last month, Russia’s deputy finance minister Alexei Moiseev said the central bank had agreed to allow the country’s people to receive and send payments abroad using cryptocurrencies. Ukraine is getting help from many countries including America in this war. Some of its agencies are also being given financial help from abroad in the form of cryptocurrencies. Ukraine is suffering heavy losses in the war. To increase its strength, it has sought arms as well as financial help from the countries involved in NATO.

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