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Mercedes-Benz could lose assets worth $2 billion in Russia

Posted On: Mar. 16, 2022 9:35 AM CST


German-based Mercedes-Benz Group AG is set to lose up to $2.2 billion worth of facilities and assets in Russia if the country starts nationalizing assets held by foreign companies that have opted to suspend or terminate business with Russia amid the ongoing war and sanctions, Yahoo reported citing Reuters. The carmaker has also warned of parts shortages, production disruptions, a loss of sales and increased risk of cyber attacks due to the ongoing war between Russia and Ukraine.