The American metallurgical corporation Arconic has announced its intention to sell its business in Samara, which will entail a loss of up to $500 million, the company’s press service reported.

“The company has conducted a thorough analysis of strategic alternatives, taking into account the restrictions imposed on our operations by the Russian government and as a result of the ongoing legal dispute with the Russian Federal Antimonopoly Service,” the statement reads.

“Unfortunately, the conflict in Ukraine has made our operations in Russia impossible,” Arconic CEO Tim Myers concluded.