Russian Government Approves Sale Of IKEA Factories

An IKEA store in Moscow (file photo)

A Russian government commission has approved the sale of Swedish furniture maker IKEA's three factories in Russia to two local buyers, paving the way for a deal to be struck, a government official was quoted as saying on February 16. Western companies announced plans to leave Russia after it sent tens of thousands of troops into Ukraine last February. Sales have been complicated by the need for deals involving firms from so-called "unfriendly" countries -- those that imposed or supported sanctions against Russia -- to win approval from a government commission. To read the original story from Reuters, click here.