Wargaming Group Limited, a Belarusian video game company now headquartered in Nicosia, Cyprus, has announced its decision to withdraw from the markets of Russia and Belarus, the company said in a statement.
"We will be completing the operational transition with all due speed while remaining in full compliance with all laws and ensuring the ongoing safety and support of our employees," Wargaming said in a LinkedIn statement. "Despite the magnitude of this decision, we as a company are confident in the future of our business and are committed to delivering quality games to our players."
The company, which is best known for its World of Tanks online game, said it had made the decision to withdraw and close offices in Russia and Belarus following a strategic review of business operations around the world in recent weeks.
On March 31, the company reportedly transferred its gaming business in Russia and Belarus to the local management of Lesta Studio, which is no longer affiliated with Wargaming.
During the transitional period, the company's products will still be available to users from Russia and Belarus.
The company said that it was expecting significant losses as a result of this decision. Yet, the company is confident of its future and new high quality games.
Wargaming is a developer of video games. The company is headquartered in Cyprus. Its development centers are located in Minsk, Kiev, Moscow, St. Petersburg and other cities of the world.
In mid-March, GSC Game World, a Ukrainian company, announced its refusal to sell its games in Russia. The studio's new title — S. T.A.L.K.E.R 2 — will be available only to those Russian users who have previously placed digital pre-orders for the game.