🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

SAP winds down Russia activities further, ending cloud services

Published 03/24/2022, 02:58 PM
Updated 03/24/2022, 03:01 PM
© Reuters. FILE PHOTO: A man walks past a SAP logo during the company's annual general meeting in Mannheim, Germany, May 15, 2019. REUTERS/Ralph Orlowski
MSFT
-
TWTR
-
DTEGY
-

FRANKFURT (Reuters) - German business software giant SAP on Thursday said it would shut down its cloud operations in Russia, withdrawing further from the country after stopping sales in Russia earlier this month.

"Russia’s ongoing unjustified war is a heartbreaking display of brutality and a violation of the fundamental principle of freedom that we share with Ukraine," the company said on its website.

It added that the move would not prevent all customers in Russia from using its products as some organisations run installed software that they may be able to maintain on their own.

The withdrawal marks a change in direction as Chief Executive Christian Klein last week in a newspaper interview defended SAP's decision to still provide services to some industries in Russia such as energy, healthcare and trade that have not been directly affected by sanctions.

The move follows an appeal by Ukraine earlier this month for cloud-computing and software giants including Microsoft (NASDAQ:MSFT) and SAP to cut off Russia to stop Moscow's invasion.

IDC analyst Philip Carter has said that Russian companies have been largely reluctant to rely completely on cloud services for their information technology, potentially limiting the blow from SAP's move.

© Reuters. FILE PHOTO: A man walks past a SAP logo during the company's annual general meeting in Mannheim, Germany, May 15, 2019. REUTERS/Ralph Orlowski

SAP added on Thursday it was providing its technology to multi-national organizations for humanitarian aid in Ukraine.

Separately, German telecoms group Deutsche Telekom (OTC:DTEGY) said on Twitter (NYSE:TWTR) it was closing its activities in Russia, which mainly amount to a software development centre in Saint Petersburg that is now winding down.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.