Stop Doing
Business with Russia
Russia initiated aggression against Ukraine in 2014. On February 24, 2022, it started a full-scale military invasion to the Ukrainian territory. This brutal war and military crimes of Russian troops caused a humanitarian crisis in Ukraine with thousands civilians killed and millions becoming refuges. As a reaction to this act of aggression, many international companies decided to leave the Russian market, while some others continue doing business there as usual. We track such decisions of companies and urge them to stop funding the war.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Pausing InvestmentsReducing Activities: company scaling back some business operations while continuing others
Scaling BackPause operations: company temporarily curtailing operations while keeping return options open
SuspensionClean Break: the company completely halting Russian engagements or exiting Russia
WithdrawalExit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exit Completed
Received revenues in Russia in 2021-2022. 07.2023: JSC "ALFASTRAKHOVANIE" (ALFAINSURANCE) becomes the new founder of the organization. The record about the founder ATRADIUS INSURANCE HOLDING N.V. has been deleted. The record about the founder of LLC "ATRADIUS PARTICIPATIONS HOLDING SL" has been removed.
Exiting all of its businesses in Russia. Exit will involve transferring ownership of its Russian businesses to independent local management. Statement condemning Russian invasion of Ukraine. The record about the founder of CJSC "MARSH (INSHURANS SERVICE) LIMATED" has been deleted.
Continued their activities in Russia. Business was sold in June 2024. 03.06.2024: 11 individuals become the new founders of the organization. The entry about the founder of EULER HERMES has been removed from the Unified State Register of Legal Entities. 14.06.2024: the name was changed from EULER HERMES RU INSURANCE COMPANY LLC to GERSA INSURANCE COMPANY LLC.
German insurance company HDI Global has sold its business in Russia. The company had been part of the German insurance group for the past 15 years. According to SPARK, the Russian subsidiary came under the control of one of the partners of the consulting firm Russia Partners. A subsidiary of the German insurance company HDI Global SE has changed its name to SK Ganza. The rebranding was carried out after the insurer sold a 100% stake in the capital of the Russian subsidiary to an investor from Russia. According to SPARK, the deal was closed on February 19, 2025. German companies HDІ Global Network AG and HDI Global SE, which owned 99 and 1% of shares, respectively, sold the entire package to the CEO of Guardia Capital Partners LLC Dmitry Piskulov, who is also one of the partners of the consulting firm Russia Partners Advisors (he owns 10%).
Due to the geopolitical situation during 2022, on December 31, 2021, the Bank significantly reduced its risk to Russia, both by adjusting the limits on counterparties from these countries and by limiting the limits on transactions in rubles. 22.11.2024: The entry about the founder PUBLIC LIMITED LIABILITY COMPANY "PPF GROUP N.V." has been removed from the Unified State Register of Legal Entities. INVEASTA INVESTMENT IN COMMERCIAL ENTERPRISES AND MANAGEMENT LLC (from the UAE) becomes the new founder of the organization PPF LIFE INSURANCE LLC.
Austrian insurance company Uniqa UNIQ.VI is looking into the possibility of a complete exit from Russia. UNIQA is selling its 75 per cent share in the Russian company Raiffeisen Life to the Russian insurance company Renaissance Life, along with AO Raiffeisenbank, which belongs to the Raiffeisen Bank International Group and owns the remaining 25 per cent of the shares. UNIQA completed sale of Russian subsidiary, exits market. 28.07.2025: The legal entity RAIFFEISEN LIFE Insurance Company LLC was liquidated.
LLC changed its name. Sold Russian business to local team/local legal entity and exited market.