The Volvo Group adheres to the sanctions imposed on Russia in response to their full-scale invasion of Ukraine Feb -22. We stopped all production, service and sales immediately, and have not been active in the Russian market since February 24, 2022. Since then, we have completely exited Russia and no longer have assets or employees there. The same goes for Belarus.  

We have seen this source of data before. To our understanding, it originates from Russian customs authorities. We have no way to confirm the quality or accuracy of that data, but we can confirm that no exports from Volvo Group to Russia have occurred after Feb 24, 2022. This means that we do not sell, transfer or export our products to Russia, or for use in Russia, and we do not engage in, or support, any schemes to circumvent these restrictions.

When selling products and services to business partners outside of Russia, we have implemented robust export controls and sanctions compliance measures to avoid circumvention. These include customer due diligence including risk-based sanctions screening, the incorporation of restrictive export controls & sanctions clauses in contracts (including No Russia and No Belarus clauses in relevant contracts outside the EU), certain monitoring activities, and pro-active follow-ups where appropriate. In appropriate cases, Volvo Group has refused supply.

It is important to note that we cannot control the trade flows of our products throughout their entire life cycle. This applies in particular to products that have been placed on the market before March 2022 and other trading activities on the secondary market. Trucks may have a long life cycle and be sold and re-sold many times by many different owners, the same as for passenger cars. 

Should there be any spare-parts related data in the report you’re referring to, we have previously looked at such data that Corisk has provided, and would like to comment that the data quality has not been at a level that allows clear conclusions regarding the origin of the goods. We believe that the data includes spare parts produced and sold before 2022. Some references have been to spare parts that have not been manufactured by the Volvo Group for more than 10 years. Additionally, we would like to point out that the data most likely includes a significant number of counterfeit products, which is a severe concern in the after-sales market from many perspectives.