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4, Toma Street, Riga, LV-1003, Latvia

+371 6709 3230

ELKO Group is considering exiting the Russian market

ELKO Group, a distributor of IT products and consumer electronics, is not making deliveries to Russia and is considering options to exit the Russian market.
Since the beginning of the war in Ukraine, ELKO Group (Akciju Sabiedriba ELKO Grupa) has stopped deliveries of IT equipment and household appliances to the Russian market. ELKO Group respects and will continue to comply with all sanctions: partner-, product- and transaction-related. As a result of these sanctions, the supply chain and the movement of goods to Russia has been suspended.

Currently, with the help of financial and legal experts, options are being developed for ELKO Group’s concern to withdraw from assets registered in Russia so that any actions taken would be in accordance with the law and would fulfil all obligations to bondholders, financial and other partners. This process is legally complicated, and ELKO Group's ability to comment on these activities in detail is limited due to the laws and regulations governing the stock market.
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