Germany's Henkel to close business in Russia

Henkel will close its business activities in Russia due to the country's invasion of Ukraine, the German consumer products maker said on Tuesday, adding it would keep paying its 2,500 employees in Russia until the process is finished.

The maker of Persil washing detergents and Pritt glue added that it was working with its teams in Russia to make the exit as smooth as possible but could not quantify the financial impact of the move at the moment.

"Henkel condemns the Russian war against Ukraine and the violence against innocent civilians. Our priority remains to do everything we can to support our colleagues in Ukraine," Chief Executive Carsten Knobel said in a statement.