Finnish telecommunications equipment maker Nokia is withdrawing from the Russian market, according to the company’s website.

“In recent weeks we have suspended deliveries, stopped new business and are moving our limited R&D activities outside Russia,” the statement said.

CEO Pekka Lundmark told Reuters the company sees “no opportunity to continue [business] in the country under the current circumstances.”

The company will continue to support customers until the process of leaving the market is complete, Lundmark added. He was unable to predict how long that might take.

Nokia also said that despite the withdrawal from the market, the company intends to ensure that its networks are maintained and will apply for the necessary licenses to ensure that its operations are compliant with the imposed sanctions.