Xerox has stopped shipments to Russia, CFO says

Xerox Holdings Corp. XRX, -0.41% has stopped its shipments to Russia and is monitoring the situation in the country, Chief Financial Officer Xavier Heiss said Wednesday.

“There is nothing going into the country,” Heiss said, referring to company shipments to Russia.

Xerox, which employs people both in Russia and in Ukraine, has separate legal entities in both countries, Heiss said. It isn’t generating significant revenues in either country and is making sure it is compliant with existing sanctions, he said.

Heiss said he is aware of the threat of potential asset seizures by the Russian government.

The Wall Street Journal on Sunday reported that several Western companies received visits from Russian prosecutors threatening arrests and asset seizures.