Contents tagged with IKEA

  • Moscow court annuls $142 million IKEA deal amid sanctions, confiscates funds to state budget

    A commercial transaction involving OOO "Torg", the Russian entity of Swedish company IKEA, and its affiliated Irish firm Fami Limited, valued at 12.9 billion rubles ($142 million) ( for goods sold in Russia, has been annulled by the Moscow Region Arbitration Court. This amount is now mandated to be transferred to the Russian state budget, as reported by Russian-language media on Saturday, May 18.

    According to reports, the court's decision in response to a lawsuit filed by the Federal Tax …