The German concern Henkel AG has decided to stop doing business in Russia.

"Henkel is exiting business in Russia," the press release said.

The company is now preparing to implement this decision. 2,500 Russian employees continue to be registered and receive a salary.

Henkel added that they could not yet calculate the financial consequences of leaving Russia.

The Henkel group of companies is one of the largest European concerns for the production of household chemicals, cosmetics and construction products.