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
Chery is ready to organize the release of its cars in Russia. The Chinese car concern can start assembly at another Sollers plant or buy out the assembly facilities.
Haier itself has no plans to leave the Russian market. In the summer of 2022, Haier announced plans to expand the production of household appliances in Naberezhnye Chelny. The brand's fourth factory will be built here.
Haval Motor remained on the Russian market.
Geely initially has suspended shipments of cars to dealers in Russia. But later, the head of Chinese car conglomerate Geely has defended a decision by the Geely auto brand to increase car sales in Russia after global rivals pulled out of the market following Vladimir Putin’s invasion of Ukraine.
Continues to build Vladivostok highway in March 2022
Remains silent on whether they will continue operations
Business as usual
Reported to suspend operations in Russia but in July 2022, Xiaomi and its sub-brand POCO combined accounted for 42% of the Russian smartphone market, ranking first in terms of sales volume. Xiaomi Corporation, the leader in the sale of smartphones in the Russian Federation, was included in the list of international sponsors by NACP of the war but the company is "strongly against the accusation from the Ukrainian National Agency on Corruption Prevention (NACP) that we are "International sponsor of war". We don't support any war actions. We fully embrace world peace. Our mission is to let everyone in the world enjoy a better life through innovative technologies".
The Russian Federation and the People's Republic of China already have experience of cooperation in the IT sphere. One of the Russian developers works with the Chinese company Alibaba Group.
The revenue of Hikvision, the Russian office of the world's largest Chinese manufacturer of video surveillance solutions, grew by 42% in 2022 to 10.9 billion rubles.
Still operating in Russia
No official statement
Still operating in Russia
Received revenues in Russia in 2021, there is no any official announcement
No news, no update at russian website since 2017
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Blocked Russian state media channels from the platform, including RT and Sputnik, followed by suspension of operations. TikTok announced massive layoffs in the Russian office but is ‘shadow promoting’ banned Russian content to users and increased number of staff in Russia from 42 to 363 in 2022. Profit of Russian TikTok in 2022 grew tenfold in a year.
China's Belt and Road spending in Russia drops to zero
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
Initially promised to terminate all deliveries to Russia, everything that will not be sold by March 24 and will remain in Russian warehouses, Dahua will take it back. But the company continued to work on the Russian market. The main difficulties in the formation of a profitable pricing policy in 2022 were associated with the volatility of the ruble. "Dahua Russia" is the main distributor of products in the Russian Federation and works in the B2B segment. As a result, the main partners of Dahua Russia, distribution networks and flagship stores adopted a wait-and-see policy and suspended the purchase of goods.
Brussels plans sanctions on Chinese companies aiding Russia’s war machine. 3HC, which makes computer chips, is “attempting to evade export controls and acquiring or attempting to acquire US-origin items in support of Russia’s military and/or defence industrial base”.
Russian companies open accounts with the bank; decline to comment. Two more structures of Chinese banks operate in Russia: the Russian China Construction Bank owned by China Construction Bank (assets of 20.5 billion rubles at the beginning of 2022), and China Agricultural Bank (11.8 billion rubles), the owner of which is Agricultural Bank of China.
Non Executive Director at Wah Kwong Maritime Transport Holdings Limited: https://www.linkedin.com/in/peter-cremers-969219159/
Still operating and providing online sales to Russia
The company did not make any statements regarding the withdrawal from the Russian market. The website of the official dealer in Russia is working. There is only a statement from February 25 that the company's drones are used only for peaceful purposes in Ukraine and do not harm people.
Chinese companies are transferring technology to equip the Russian army, Importgenius trade data shows.
Continuing to operate in Russia. Did not return CBNC's request for comment.
Initially ceased financing of deals involving Russian commodities. The largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times.
Realme and Oppo as well as some other Chineese brand now hold 61% of Russia’s smartphone market by sales as of May 2022.
The US has imposed export restrictions on 37 companies, nearly 30 of them Chinese, for activities that include aiding the Russian military and supporting China's PLA. The restrictions affected divisions of the Chinese genetics company BGI and the Chinese cloud computing company Inspur.
Initially restricted Russian accounts with over €10,000. Binance has banned Russians, as well as any individuals living in Russia, from buying and selling dollars and euros through its P2P service. But later Crypto exchange Binance removed the limit of 10,000 euros for the accounts of Russians. Binance has returned the possibility of paying deposits with Russian cards. Customers of the Binance crypto exchange from Russia can now replenish deposits from Qiwi wallets and through bank cards issued in Russia.
Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call.
Managing Director at Fleet Management Limited: https://www,linkedin,com/in/kishore-rajvanshy-91240a51/
No public action found. (SKIL is sold in Russia. Lowe's 2021 vendor partner of the year.)
Planning new infrastructural projects
Russian companies openned accounts with the bank; decline to comment. Later, the largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. Two more structures of Chinese banks operate in Russia: the Russian China Construction Bank owned by China Construction Bank (assets of 20.5 billion rubles at the beginning of 2022), and China Agricultural Bank (11.8 billion rubles), the owner of which is Agricultural Bank of China. According to the financial indicators of China Construction Bank, its assets have tripled over the past year, to 60.6 billion rubles.
Discussing investments with Chinese government to booster stakes in Russian energy and commodity companies
Business as usual, agree to use rouble, yuan for gas payments
Contractor to the Russian state. The National Agency on Corruption Prevention (NACP) included CSCEC in the list of international sponsors of the war.
Increasing coal shipments from Russia
Novatek owns a 50.1% stake in Yamal LNG. France’s TotalEnergies and China National Petroleum Corp each control 20%, while China’s Silk Road Fund owns 9.9%.
The National Agency for the Prevention of Corruption (NACP) listed the Chinese company ComNav Technology on the list of international sponsors of the war: ComNav manufactures and still supplies Russia with navigation and radar equipment.
About 30 Russian banks have already connected to the national Chinese bank transfer system CIPS (Cross-Border Interbank Payment System), which allows you to make payments in yuan.
The representative of the Russian office announced the termination of the company's work in Russia, however, the company in a post on Weibo reported that the work would continue.
Announced that stopped selling drones in Russia but Russia still uses DJI complexes to detect drones of the Armed Forces of Ukraine.
Managing Director at Fleet Management Limited: https://www.linkedin.com/in/kishore-rajvanshy-91240a51/
Chinese companies are transferring technology to equip the Russian army, Importgenius trade data shows
Chinese companies are transferring technology to equip the Russian army, trade data (Importgenius) shows
China's Great Wall Motor posts profit surge on Russia business. NACP included the Chinese car manufacturer Great Wall in the list of sponsors of the war.
China-based Guilin Alpha Rubber & Plastics Technology Co., Ltd (Guilin Alpha) has facilitated the sale and shipment of thousands of aerospace components worth over a million dollars to HESA in Iran.
Hainan Airlines resumes flights to Russia
Hangzhou Fuyang Koto Machinery Co., Ltd (Koto Machinery), a China-based company, used its business infrastructure to facilitate the sale and shipment of aerospace components, including light aircraft engines applicable for Iran’s Shahed series UAVs, to HESA in Iran. To obscure its activity, Koto Machinery used Hong Kong-based front company, Raven International Trade Limited (Raven), to facilitate transactions worth millions of dollars for aerospace components.
A Wagner-connected, Russia-based company called Broker Expert bought 20,000 polymer-based helmets from a small Chinese company called Hangzhou Shinerain Import And Export Co in November and December last year.
Harbin Bank, which in 2015 partnered with Sberbank of Russia to establish a platform for Sino-Russian financial cooperation, in 2022 launched a department dedicated to promoting cross-border business with Russia.
The former Mercedes-Benz plant in the Moscow region will start producing cars of the Chinese luxury brand Hongqi ("Hongqi"), which originally produced cars for the political elite of China.
Curtail Russian access to capital markets. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times.
Offices operating in Moscow, did not answer for Reuters' calls for commenting on that
The US has imposed export restrictions on 37 companies, nearly 30 of them Chinese, for activities that include aiding the Russian military and supporting China's PLA. The restrictions affected divisions of the Chinese genetics company BGI and the Chinese cloud computing company Inspur.
Business as usual - the Russian store is still fully operational
Has purchased at least 50,000 tonnes of coal from Russia since the war broke out - 'We are still in the business when many of our peers are out'
Brussels plans sanctions on Chinese companies aiding Russia’s war machine. King-Pai provides microelectronics to Russia that “have defence applications that include cruise missile guidance systems”, the US Treasury has previously said.
Chinese electric vehicle maker Li Auto has begun selling its L7 plug-in hybrid vehicles in Russia with a starting price of 5.2 million Russian rubles ($66,116).
In the second quarter, the first Chinese sportswear and footwear store of the Li-Ning brand was opened in RF
The Orlan-10 drone manufacturer buys electronics in the US, EU and China to circumvent sanctions.
Meilin Auto unveils plans to begin sales to Russia, registered legal entities in Russia.
Continuing Russian operations. Did not return CNBC's request for comment. (Partners with Activation Blizzard to offer their games in China.)
Aiding Russia’s war machine.
Trafigura said in a statement on Wednesday 13/07/2022 that its 10 per cent stake in Vostok Oil, a gargantuan Arctic development backed by Russian president Vladimir Putin, had been sold to “an independent Hong Kong registered trading company”, Nord Axis Limited.
The company is actively exploring opportunities to work with Russian partners
OVP Shipping launched China-Baltic Sea and China-Black Sea Service to Russia.
China's top refiners PetroChina and Sinopec are resuming purchases of discounted Russian crude after a brief pause in late 2022, just before the European Union embargo on Russian oil started.
Cooperating with a Russian bank "Solidarnost" on off-shore projects
China-based S&C Trade PTY Co., Ltd (S&C Trade), its China-based employee Yun Xia Yuan, and China-based Shenzhen Caspro Technology Co., Ltd (Caspro), have facilitated the sale and shipment of thousands of aerospace components worth hundreds of thousands of dollars for fixed-wing, rotorcraft, and UAV applications to HESA in Iran.
Remains operational; plans to increase export
6.07: Said that it has never had any customers in Russia, assuaging investor concerns that the Chinese contract chip maker could be punished by Washington over violations of US economic sanctions. Before - defied US sanctions by continuting to export to Russia
Received revenues in Russia in 2021, there is no any official announcement
Chinese truck brands occupied more than half (52%) of the Russian market in January 2023 against the background of the departure of European manufacturers and squeezed KamAZ. The top 3 is closed by the Chinese Shacman (Shaanxi) SX3258 (151 cars sold).
China-based S&C Trade PTY Co., Ltd (S&C Trade), its China-based employee Yun Xia Yuan, and China-based Shenzhen Caspro Technology Co., Ltd (Caspro), have facilitated the sale and shipment of thousands of aerospace components worth hundreds of thousands of dollars for fixed-wing, rotorcraft, and UAV applications to HESA in Iran.
The Orlan-10 drone manufacturer buys electronics in the US, EU and China to circumvent sanctions.
Chinese companies are transferring technology to equip the Russian army, Importgenius trade data shows
Business as usual
Aiding Russia’s war machine.
Continuing to operate in Russia. Did not return CNBC's request for comment. (Largest video game company in the world)
Big power plants and about 20 Russian coal companies discussed plans to increase bilateral trade
Russian mobile and electronics retail chain M.Video-Eldorado has introduced smartphones Wiko (French brand of Chinese company Tinno Mobile) in the country