Ikea swindled out of 1.5 billion in Russia

Ikea has been swindled out of 1.5 billion kronor ($189 million) in Russia, company founder Ingvar Kamprad revealed on Sommar, a show on Sveriges Radio P1.

“We were completely fooled when it came to electricity and gas deliveries. Something that is going to cost us more than 1.5 billion kronor. I know that this will become a legal matter,” he said, according to Sveriges Radios Ekoredaktion.

Ikea currently has eleven stores in Russia.

Kamprad also revealed that during a recent board meeting he had put forth the idea of establishing an Ikea location in Iran, but this was set aside due to opposition by other board members.


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