Arconic Corp sells Russia operations for $230 million

Arconic has joined the list of Western companies selling Russian assets to comply with the sanctions imposed on Moscow over the Ukraine war.

"Operating in Russia has only become more difficult and our ability to operate forward has become increasingly uncertain in light of the current geopolitical environment," said Tim Myers, CEO of the company.

Arconic had suspended new contracts in Russia in March.

However, the company warned in May that its employees could face criminal charges if it makes any sudden or unapproved changes to its Russia operations, citing an ongoing dispute with the country's antitrust agency.