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
Exit Completed
Initially suspended operations in Russia. The company's statement regarding Ukraine contained the following sentence: "we have decided to temporarily suspend all non-essential activities and development plans in Russia, like most other food companies" later this part of the statement was revised to "All non-essential activities and development plans in Russia remain on hold ”, avoiding comparison with “other food companies”. The vast majority of exports are direct. Comparing total exports for the year beginning March 1, 2022 versus a year earlier by value, the growth is 33% ($120 million vs. $90 million). The 33% increase in value was not enough to maintain the market share of exported chocolate: it fell from 18.2% to 16.9%.
No statements about suspending or closing business. Italian bank Intesa Sanpaolo's (ISP.MI) Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia's banking sector gave foreign lenders an unlikely boost.
No official statement
No official statement
Still operating in Russia; not disclosed publicly
No information about operations with Russia
Still operating and actively hiring in Russia
Continue operations in Russia
The company stopped all investments in Russia including advertising & promotions and reduced the business to minimum necessary to pay the salaries to the local staff. Still operating in Russia with increasing revenue volumes in 2022 vs 2021.
Continues cooperation and fulfillment of its obligations
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Promised to suspend new investments but opened its 80th store in Russia in March 2022
Italy's Marcegaglia buys Russian steelmaker Severstal's Latvia unit. Aslo have a production plant at Vladimir, Russia ("Marcegaglia Ru LLC").
Still operating in Russia. UniCredit is considering leaving the Russian Federation, but with the possibility of returning after the war - Bloomberg. UniCredit Bank, a subsidiary bank of the Italian group UniCredit, in 2022 increased its net profit according to the RAS by 4 times, to 56.5 billion rubles, according to the reporting of the credit organization. It is reported that at the moment two banks — Creditas and UniCredit Bank — have confirmed that they are canceling the accounts of Russian and Belarusian citizens. According to the representative of UniCredit Bank Petr Plotsek, the bank has long been applying special rules for opening and maintaining accounts for persons from outside the EU. He emphasized that such persons, both physical and legal, must prove a reliable and justified connection with the Czech Republic, although the bank does not publish these rules due to their nature.
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement.
No official statement
Still operating in Russia & online sales running
Still operating and investing in Russia
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement.
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
No official statement
No official statement
Received revenues in Russia in 2021, there is no any official announcement.
No official statement
No public action found. (Office in Moscow. Customers include Auchan hypermarkets, Okey foodservice chain, Russian Parliament and the Federal Russian Space Agency. ACP, AFE, Bongard, Caripigiani, Edlund, Mareno, Scotsman, and Wexiödisk have sales distribution in Russia.)
No public statement found. (Subsidiary in Russia. Location expanded in Moscow for Gelato University in 2019.)
In summer 2022, the military footwear manufacturer received 1.3 tons of cattle hide leather from Conceria Cervinia, based in Verona.
Cunial Components supplies russian armed forces with shoes insoles.
Since February 24 the company has not commented on the exit from the russian market, as well as its parent company Megha Engineering and Infrastructures Limited (MEIL) and continues to sponsor the war in Ukraine.
Supplies the Russian armed forces with clothes parts. Faraday's soles also come from Italy, supplied by Suolificio Morrovallese. The company's plastic pads are Italian too, manufactured by Formificio Milanese Team.
The subsidiary LLC Russian Representation GE.MI POWER SOLUTIONS LLC continues its activities
Hawai Italia supplies the russian armed forces with clothes rivets.
No public action found. (At least 5 dealership/service partner locations in Russia.)
No public announcement regarding Russian operations. (Stores and e-commerce in Russia)
Supplies the Russian armed forces with clothes parts. Faraday's soles also come from Italy, supplied by Suolificio Morrovallese.
As The Insider found out, Donobuv also supplies the armed forces with shoe glue and solvents (supplied by Jakob KECK Chemie GmbH) and leather (supplied by Salamander SPS GmbH & Co. KG) from Germany, while the soles are imported from Italy (Tacchificio Campiglionese).
Suspended commercial activities; managing existing backlog
Host all new investments and advertising activities and not to profit from the presence in Russia, donation to UNHCR and Red Cross
Suspended investments but still operating in Russia.
Stop advertisement and new investments; continue operating plant in Russia
Halt new investments, Saipem in Talks to End Its Arctic LNG 2 Projects in Russia
Suspend new investments in Russia and scale back production. 23.05.2022: The state corporation for the promotion of the development, production and export of high-tech industrial products "Rostec" Joint-Stock Company "Scientific and Research Institute of Rubber and Polymer Products" became the new founder of the organization, 28.03.2022: the financial reports for 2021 was deleted.
Paused new investments/development
Danieli produces steel processing machines which can be used to produce tanks or submarines. "We certainly have no control over which hands they change once they’re sold. What we can guarantee is that our customers do not belong to the lists of interlocutors prohibited by sanctions".
Restrict Russian operations to medical services
Enel flags intention to rein in Russia investments
Suspend all shipments to Russia but Russia began to import Lamborghini with mileage on parallel imports.
Has suspended all sales to and purchases from Russia, It has also decided to write off its investments in a Russian joint venture that it had with Severstal,
Suspend online sales; no information about on-site sales
Buzzi Unicem – a company, whose Russian business is contributing to Russian war crimes committed in Ukraine. Buzzi Unicem was added on the international sponsors of war list by National Agency on Corruption Prevention (NACP). Buzzi Unicem has already explained in its press release dated May 12, 2022 the decision to immediately cease any operational involvement in the activities carried out by the subsidiary SLK Cement in Russia and to suspend all strategic initiatives and investments in the country. This means the lack of involvement of the management in the decision-making process regarding local initiatives and commercial actions.
Temporarily suspended all commercial activity in Russia. (Between Russia and Ukraine, commercial activity includes e-commerce sites, two directly operated stores, three wholesale mono-brand stores, and about 100 multi-brand wholesale entities. Russian market estimated at <2% of company revenues)
Sales of tours for Russians were suspended in the spring.
Suspended exports to Russia but still operates two authorized dealerships, donation of 1 million to UNHCR
Suspended official deliveries to Russia. Donation to Fondazione Francesca Rava for Ukraine after 1 month of war
Suspended all shipments to and production for Russia partners
Iveco to leave Russia, to transfer stake in truck JV to local partner.
Italian transport caterer Autogrill is selling its operations in Russia
Closing office and reducing operations in Russia. Resigning board positions held on minority joint venture Ingosstrakh Ins. Co. Pledged over $3.2 M to refugee programs like UNHCR and employee matched donations to UNICEF.
UAC United Aircraft Corporation (Zhukovsky) has said it will completely withdraw from SuperJet International, a joint venture it owns together with Italy’s Leonardo that is responsible for marketing SSJ 100/95 regional jets outside Russia. The Russian aerospace and defence corporation would sell its 49% stake in SuperJet International to Mark AB Capital Investments of the United Arab Emirates and exit the program entirely.
Donation to UNHCR. Declared they will leave Russia in May. Enel writes down Russian unit's value pending sale completion. LLC was sold to a local legal entity. Putin authorises Enel to sell Russian unit to Lukoil.
JSC "INDEZIT INTERNATIONAL" was sold to Turkish investors on September 16, 2022.
Suspend stipulation of new oil contracts; divest from investments in Russian pipelines; continued buying Russian gas for rubles. Eni opened Gazprom arbitration proceedings after gas supply cuts.
Continued processing Russian oil. Lukoil is close to completing a deal to sell the Isab refinery in Sicily for $1.58 billion. Italian officials are still concerned about some aspects of the transaction. And one senior Italian energy official said he was concerned that "a group of unknown investors running a newly created company from Cyprus could acquire an asset that Rome considers a "strategic". 11.04.2023: Italy gave conditional approval to the sale of the Lukoil-owned refinery (LKOH.MM) in Sicily to Cypriot private equity firm G.O.I. Energy.