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IKEA settles disputes with Russian energy suppliers

© RIA Novosti . Ruslan KrivobokIKEA
IKEA - Sputnik International
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Swedish retailer IKEA said on Thursday it had settled all disputes with St. Petersburg's energy contractors, putting an end to a long-running scandal over electricity supplies.

Swedish retailer IKEA said on Thursday it had settled all disputes with St. Petersburg's energy contractors, putting an end to a long-running scandal over electricity supplies.

There has been a series of disputes in recent years related to IKEA not being able to open stores on time due to red tape in local administrations.

IKEA Global Property Manager John Rasmussen said he was glad that all disputes could be left behind.

In February 2010, two top IKEA managers, Per Kaufmann and Stephan Gross, were dismissed after being caught giving bribes to an electricity supplier in St. Petersburg in order to get its MEGA mall hooked up.

In June 2009, IKEA founder Ingvar Kamprad accused Russia's energy contractors of overbilling, which led to the company losing $179 million.

He announced the retailer was freezing any further investment in Russia "because of pervasive corruption."

IKEA said later the freeze would stand until a proposed IKEA mall in the Volga city of Samara opened after years of delays. The opening date is as yet unclear.

IKEA has opened 11 stores since it came to Russia in 2000.

MOSCOW, December 2 (RIA Novosti)

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