Kuehne+Nagel signs an agreement to sell its business in Russia

Kuehne+Nagel signed an agreement on June 3, 2022, to sell its business in the Russian Federation to its local Managing Director, according to the company's release.

This follows Kuehne+Nagel’s announcement on March 1, 2022, to temporarily suspend all shipments to/from the Russian Federation, except for pharma, healthcare and humanitarian supplies.

Closing of the transaction is still subject to approval of the competent local merger control authority.

Direct consequences of the sanctions in the affected markets bring major indirect impact to the global trade and logistics flows.

In addition to extra capacity solutions, Kuehne+Nagel deploys Sea-Air program with multiple connection points in Southeast Asia, Middle East and West Coast USA which helps to avoid potential congestion spots. Kuehne+Nagel had to stop the acceptance of bookings for rail transports (Eurasia Express) to and from Europe, as these transports pass through the Russian Federation.

For more information: ch.kuehne-nagel.com

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