Toyota closes its production facility in Russia

Japanese carmaker Toyota has closed its car assembly site in Russia's St Petersburg, Russia's Industry and Trade Ministry said in a statement on Friday.

Toyota suspended production at the factory in March, and stopped vehicle imports into Russia due to interruption in supply of key materials and parts.

The statement said the company will continue fulfilling all obligations to its employees, and retain after-sales service for vehicles in Russia.

Toyota also confirmed the move in a statement, saying "after six months, we have not been able to resume normal activities and see no indication that we can re-start in the future."

It said that the operations in Moscow "need to be optimised and restructured" to continue supporting the retail network in providing ongoing service to existing Toyota and Lexus customers.

The manufacturer said the employees will be offered "assistance for re-employment, re-skilling and well-being, including financial support above legal requirements."

Hundreds of companies have either suspended operations or completely pulled out of Russia after Moscow launched its "special military operation" in Ukraine on Feb. 24.