Finnish shipping technology group Wartsila is taking a €200m ($218m) hit from halting its business with Russian clients.

The company said the figure is related to assets and operations in the country.

Wartsila said it strongly condemned the war in Ukraine and immediately suspended all deliveries, sales, orders and bidding involving Russia.

“We are complying with all current, and will comply with all future, trade sanctions applicable to our operations,” the company said.