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
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. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month. Significantly increased revenue in 2023 vs 2022 (more than 3x! times). The ex-Mercedes plant in Yesipovo near Moscow, which was transferred to Avtodom, will assemble premium cars from the Chery concern under a contract assembly agreement.
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. The Chinese car manufacturer Geely was included in the list of international sponsors of the war by NACP. Significantly increased revenue in 2023 vs 2022 (more than 2.4x! times). Revenue increased in 2024 vs 2023 by more than +50%.
Haval Motor remained on the Russian market. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month. Significantly (more than 3x! times) increased revenue in 2023 vs 2022.
Changan remained on the Russian market. The Changan brand has reduced its model range presented in the Russian Federation from 17 to 14 cars. Crossovers CS35 Plus, CS55 and CS75 FL will cease to be sold in the country. The press service of the company explained that they will be replaced a little later by the next generations of updated cars. However, experts emphasize that the CS35 Plus crossover, which will no longer be sold in the country, was one of the most popular among Russians. Revenue increased in 2024 vs 2023 by more than +50%.
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. Significantly (2x! times) increased revenue in 2023 vs 2022.
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. The Chinese manufacturer of household appliances Haier intends to liquidate the factory of Candy household appliances in Kirov. Significantly increased revenue in 2023 vs 2022 (more than 1.5x! times).
According to Russian press, Huawei has stopped taking on new contracts to supply network equipment to Russian operators. Suspend new orders and furlough some staff; 1/07/2022: activated hiring 19/08/2022: Huawei stores in Russia stop selling products to visitors (lack of official supply); 6/09/2022: relocated Chinese and Russian managers and heads of divisions to Kazakhstan and Uzbekistan. Russia and China already have experience of cooperation in the IT sphere. One of the Russian developers works with the Chinese company Alibaba Group, and Red Soft has a joint project with Huawei. Taiwanese MSI became the leader in laptop sales in Russia, overtaking Asus and Huawei.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
JAC Motors remained on the Russian market. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month.
Business as usual
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. Bank of China restricts Russian transfers of yuan to E.U., U.S. Bank of China (BoC) significantly increases its capital, assets and Net profit in Russia in 2022 vs 2021. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation. Without waiting for the expiration of its license, Bank of China, one of the largest Chinese banks, which acted as a clearing agent, that is, de facto carried out all yuan transactions, refused to work with the Moscow Exchange.
Suspend $500M new investment and significant operations and partnerships. 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. NACP adds the three largest Chinese oil and gas companies to the list of international sponsors of war. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. One of China's largest crude oil buyers, Sinopec Shanghai Petrochemical, cut purchases from Russia in the first quarter after more than doubling in 2024. Sinopec, a leading Asian refiner, resumed purchases of Russian oil after a brief pause in March 2025 to assess risks from sanctions imposed by the United States on Russian companies. Revenue increased in 2024 vs 2023 by more than +100%.
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue increased in 2024 vs 2023 by more than +30%.
Chinese investors, including Midea and Hisense, are interested in the acquisition of Russian Bosch plants. The largest Iranian manufacturer of household appliances, Entekhab Group, is negotiating the purchase of a refrigerator plant of the major Chinese brand Midea in Tatarstan.
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. Included in the list of international war sponsors by NACP. The company received almost $150 million of revenue in 2023 and has not gone anywhere, its support service in Russia works normally at the number +7(800)500-00-88 or via Support.ru@hikvision.com
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. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation.
Received revenues in Russia in 2021, there is no any official announcement
No official statement
China's Belt and Road spending in Russia drops to zero. Received revenues in Russia in 2021-2024. Revenue increased in 2024 vs 2023 by more than +30%.
The company operates in Russia and gained profits 5 years after the start of work. It was able to earn billions rubles and opened a development center.
The Chinese electronics manufacturer Honor promised to suspend the official supply of devices to the Russian Federation. But later new Honor smartphones went on sale in Russia. Significantly reduced revenue in 2023 vs 2022. Revenue increased in 2024 vs 2023 by more than +30%.
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.
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.
Received revenues in Russia in 2021-2024, there is no any official announcement. Significantly reduced revenue in 2023 vs 2022. Revenue increased in 2024 vs 2023 by more than +100%.
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”.
Small Chinese drone manufacturers are interested in localizing assembly in the Russian Federation and are negotiating the organization of joint ventures with local developers. Among potential investors, they name Fimi, AEE and ZeroZero.
AITO SERES is strengthening its position in Russia. SERES, Huawei and Martin Eberhard, one of the founders of Tesla, took part in the development of premium hybrid cars under the AITO SERES brand. In Russia, the distributor of the brand is AO MB RUS (former name - AO Mercedes-Benz RUS).
In November 2023, the so-called Prime Minister of the “DPR” Yevgeny Solntsev announced that the Karansky quarry had signed cooperation agreements with two Chinese companies. “Karansky quarry LLC has signed cooperation agreements with two Chinese enterprises – the factory for the production of rock crushing equipment Amma Сonstruction Machinery Co. Ltd and the factory for the production of crushing and sorting equipment Zhongxin Heavy Industry Machinery Co., Ltd,” Solntsev wrote on his Telegram channel. He also posted a photo of himself posing with the Chinese delegation against the background of the national flag of the PRC.
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 US introduced export restrictions against the company. Japan has imposed trade restrictions against Chinese companies as part of a new round of sanctions against individuals and groups that support Russia's war against Ukraine. The Hong Kong company Asia Pacific Links, which supplied microchips for Russian drones, and the Chinese Yilufa Electronics Limited were sanctioned.
Have a lot of Russia customers, can help Russia companies in IC, electronic components.
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.
The Chinese brand of children's clothing and accessories Balabala plans to open 60 stores in Russia in the next three years, said Vyacheslav Shikulov, president and co-owner of the Chemodan, Boggi Milano and Balabala chains in Russia.
The USA has imposed sanctions on three companies based in China, as reported by the US Department of Defense. Beijing Luo Luo Technology Development Co Ltd worked on the supply of nozzles and other equipment that could be used in the production of solid-fuel rocket engines. The companies were involved in activities or agreements that significantly contributed to the proliferation of weapons of mass destruction or the means of their delivery, including missiles capable of delivering such weapons.
Chinese firm Beijing Yunze Technology Co. Ltd. sold satellites for intelligence to Russia's Wagner. According to a contract seen by AFP written in English and Russian and signed on Nov. 15, 2022, the company Beijing Yunze Technology Co. Ltd. sold two high-resolution observation satellites belonging to the Chinese space giant Chang Guang Satellite Technology (CGST) to Nika-Frut, a company then part of Prigozhin's commercial empire. The over $30 million (235 million yuan) price was for the satellites themselves and additional services.
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.
Crypto exchange Bybit initially didn't plan to sanction russian users despite MAS call. But later, following Binance, crypto exchanges OKX and Bybit closed operations with sanctioned Russian banks on p2p platforms. Users from Russia took first place in the number of visits to the Bybit cryptocurrency exchange in April 2024. The share of Russian traffic on the Bybit exchange reached 27% in May 2024 and 26% in April 2025.
Managing Director at Fleet Management Limited: https://www,linkedin,com/in/kishore-rajvanshy-91240a51/
The USA has imposed sanctions on three companies based in China, as reported by the US Department of Defense. Changzhou Utek Composite Company Ltd has been supplying D-glass fiberglass, quartz fabric, and high-silica content fabric since 2019, all of which have applications in rocket systems. The companies were involved in activities or agreements that significantly contributed to the proliferation of weapons of mass destruction or the means of their delivery, including missiles capable of delivering such weapons.
No public action found. (SKIL is sold in Russia. Lowe's 2021 vendor partner of the year.)
Planning new infrastructural projects
Nornickel, opens new tab is in talks with China Copper to form a joint venture that would allow the Russian mining giant to move its entire copper smelting base to China.
Chinese airlines add US flights, avoid Russian airspace. Up until now, Chinese airlines have used Russian airspace to and from the United States without any restrictions. China Eastern Airlines has direct flights to/from Moscow.
Discussing investments with Chinese government to booster stakes in Russian energy and commodity companies
Russia's state nuclear corporation Rosatom and state-owned China National Nuclear Corporation have been tapped to lead separate consortiums to build the first nuclear power plants in Kazakhstan.
Business as usual, agree to use rouble, yuan for gas payments. Turkmenistan refused to pump Russian gas to China. The Kremlin's plans to create a "gas union" in Central Asia to pump more gas to China have met with resistance from Turkmenistan, China's largest supplier of pipeline gas. Turkmenistan does not plan to connect Russia to the pipeline through which gas is supplied to China, the country's Foreign Ministry said. Turkmenistan, Kazakhstan and Uzbekistan are already supplying China with gas together through a pipeline built by the state-owned Turkmengas and China's CNPC. Of the 55 billion cubic meters per year, Turkmen gas accounts for 40 billion cubic meters, and the rest is supplied by Uzbekistan and Kazakhstan.
Chinese airlines add US flights, avoid Russian airspace. Up until now, Chinese airlines have used Russian airspace to and from the United States without any restrictions. China Southern Airlines has direct flights to/from Moscow. Air China, China Southern appear to avoid south Russia after deadly Azerbaijani crash.
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.
The company is included in the sanction list of the US Treasury. Hong Kong-based Covart Energy Limited (Covart) has sharply increased its share of the trade of Russian oil since the price cap policy was implemented. Since May 2023, vessels chartered by Covart have made at least 23 port calls in Russia. Covart also owns a Russia-flagged vessel, the Sanar 15.
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 US State Department sanctioned DeepCool for the alleged sale of $1 million worth of products to two Russian companies.
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.
Dongfeng remained on the Russian market. At the end of 2023, the manufacturer of hybrids and electric vehicles Voyah, with an average price of 8 million rubles, became the leader in the premium segment, having sold about 4,000 crossovers and luxury minivans in Russia. The owner of Voyah, one of the oldest and largest automakers in China, Dongfeng, decided to rely on expensive cars in the Russian market. Rosstandart has banned the import of Chinese trucks Dongfeng, Foton, Faw and Sitrak into the country.
Chinese clothing brand called "EBLAN" is about to open in Russia.
Customs documents show AMG purchased about $600,000 worth of Tsugami equipment from an official Japanese supplier in 2021. The purchase then increased after the incursion to $50 million in 2023, with the entire increase coming from two shadowy middlemen. Amegino's first provider is a UAE-based provider under US sanctions whose website is initially hosted on servers in Russia. Its owner is Andriy Mironov, according to the corporate intelligence company Diligencia; There are no other details about Mironov's past. The second company is ELE Technology, which fraudulently presents itself as a "division of Gray Machinery Company", a distributor of machine tools in the USA.
The Ellassay boutique in GUM opened on the site of a former Prada store. The area of the outlet is 490 sq. m, the store occupies two floors. In early February, a store of another women's clothing brand from the Ellassay Group portfolio, Laurel, opened in GUM.
Aiding Russia’s war machine. The Moscow-based LLC "ETC Electronics," established in 2021, imports microchips from Texas Instruments, Analog Devices, and Altera, which are used in the "Kinzhals," through the Chinese company ETC Electronics Limited.
Exeed remained on the Russian market. Exeed Exlantix ET was introduced in Russia on September 24 and will officially go on sale in the first quarter of 2025.
Small Chinese drone manufacturers are interested in localizing assembly in the Russian Federation and are negotiating the organization of joint ventures with local developers. Among potential investors, they name Fimi, AEE and ZeroZero.
Germany's WWSemicon GmbH and Hong Kong's Finder Technology continued supplies to Russia's Compel in 2023 and appear to be the company's largest suppliers, accounting for at least 65% of Compel's imports from 2022. Overlooking the waterfront of a Hong Kong suburb, Finder Technology has shipped millions of dollars’ worth of components to Compel, including various high-priority items for Russian weapons systems.
Managing Director at Fleet Management Limited: https://www.linkedin.com/in/kishore-rajvanshy-91240a51/
Foton Motor remained on the Russian market. Rosstandart has banned the import of Chinese trucks Dongfeng, Foton, Faw and Sitrak into the country.
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
The USA has imposed sanctions on three companies based in China, as reported by the US Department of Defense. One of these companies, General Technology Limited, was involved in the supply of soldering materials used to connect components in rocket engines for ballistic missiles and in the production of combustion chambers.The companies were involved in activities or agreements that significantly contributed to the proliferation of weapons of mass destruction or the means of their delivery, including missiles capable of delivering such weapons.
Manufacturer and distributor of alcohol Ladoga (Tsarskaya, Barrister, Fowler’s, etc.) began producing whiskey under its Kubao brand at the Chinese Goalong Distillery for supplies to Russia.
Fortis distributor also offers its clients Chinese server and telecommunication equipment from Gooxi company. This is an Asian manufacturer of server equipment, which has its own factory, research and development center in mainland China, but also plans to localize production facilities in other countries.
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
The Russian state atomic energy agency Rosatom has signed a memorandum of understanding with a Chinese shipping company to establish a year-round container line between the two countries through the Arctic Northern Sea Route (NSR). Rosatom stated that the agreement with the Chinese company Hainan Yangpu NewNew Shipping Co. Ltd envisages the creation of a joint venture for the design and construction of container ships and the joint operation of a shipping line.
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.
In July 2024, the first Chinese brand store in Russia opened in Perm. In 2024, it is also planned to open a store of the HEA brand in another shopping center managed by Malltech - in the "Planeta" shopping center in Ufa.
UC Rusal has reached an agreement to purchase one-third of the Chinese metallurgical company Hebei Wenfeng New Materials to ensure the supply of alumina. The companies need the raw material due to sanctions imposed by Western countries. The deal is valued at $266.9 million, but it could potentially increase.
The European Union has imposed sanctions on two Chinese banks and five companies based in China as part of another round of sanctions against Russia over its invasion of Ukraine. According to a statement from the European Council, the banks targeted are Heihe Rural Commercial Bank Co. and Heilongjiang Suifenhe Rural Commercial Bank Co. According to the EU, they were listed for providing cryptocurrency services that undermined the objective of the sanctions.
China's Heilongjiang Dragon-Link International Logistics Co. will deliver 1,000 used cars to Russia by the end of the year, Deputy General Manager Ge Xin said on the sidelines of the 9th Suifenhe International Cross-Border Trade Fair.
Light filtered beer XINBALU 1999 and "Station Harbyn" will be imported into Russia. According to the declaration, the manufacturer is Heilongjiang Quanrun Beer Co, which is registered in China. The declaration is serial, which allows you to import products more than once.
The European Union has imposed sanctions on two Chinese banks and five companies based in China as part of another round of sanctions against Russia over its invasion of Ukraine. According to a statement from the European Council, the banks targeted are Heihe Rural Commercial Bank Co. and Heilongjiang Suifenhe Rural Commercial Bank Co. According to the EU, they were listed for providing cryptocurrency services that undermined the objective of the sanctions.
The Chinese payment company Helipay is negotiating with three Russian banks to organize cross-border payments between companies in the two countries.
The United States imposed sanctions for aiding the Russian military-industrial complex and circumventing export controls. China-based Hengshui Heshuo Cellulose Co. Ltd. and Hengshui Yuanchem Trading Ltd. are accused of shipping large quantities of nitrocellulose to Russia.
The United States imposed sanctions for aiding the Russian military-industrial complex and circumventing export controls. China-based Hengshui Heshuo Cellulose Co. Ltd. and Hengshui Yuanchem Trading Ltd. are accused of shipping large quantities of nitrocellulose to Russia.
Chinese investors, including Midea and Hisense, are interested in the acquisition of Russian Bosch plants. The Russian division of Bosch has fired the remaining sales managers for household appliances and is negotiating the sale of the business to the Turkish investment fund Can Holding. Chinese Hisense pulled out of negotiations as Turkish company offered more money.
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. The Chinese manufacturer of limousines for Communist Party leaders Hongqi (pronounced “Huntsy” and translated as “red banner”), which supplies the most expensive cars to Russia (maximum price 19 million rubles), intends to increase sales from 3,300 cars in 2023 to 12,000 in 2024. A project to produce Aurus cars for Vladimir Putin and the country's top leadership at a former Toyota plant near St. Petersburg has been postponed indefinitely due to the breakdown of negotiations with Chinese partners.
A Russian state explosives manufacturer circumvented Western sanctions by acquiring Siemens equipment through an intermediary that imports technology from China. Customs data and procurement documents show that the Biysk Oleum Plant (BOZ) signed a contract with Russian company Techpribor in October 2022 to supply equipment for production automation. Shortly before the delivery deadline, Techpribor received the required machinery from Chinese-based Huizhou Funn Tek, located in Guangdong province. A comparison of product codes revealed that the Siemens power controllers shipped from China were identical to those ordered by BOZ.
IMAXChip Technology was sanctioned in December 2023 for making "multiple shipments of advanced electronics to Russia," a Treasury notice said, including to the sanctioned Akrol firm. IMAXChip has become one of Russia's top five sources of foreign microelectrics.
Offices operating in Moscow, did not answer for Reuters' calls for commenting on that. The three largest banks in China have stopped accepting payments from Russian sanctioned financial organizations, Izvestia found out. We are talking about Industrial and Commercial Bank of China (ICBC), China Construction Bank and Bank of China. This decision is associated with the risks of secondary sanctions.
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.
Izzition E-Technology was sanctioned the same month, for its use "by the Russian government to procure electronic components." The company deals in goods, including semiconductors, for which Russian arms are heavily dependent on imports.
Business as usual - the Russian store is still fully operational. The Chinese company JD.com will become an indirect co-owner of M.Video-Eldorado after purchasing the German retailer Ceconomy. The deal includes the takeover of Media-Saturn-Holding GmbH, which owns 15% of M.Video shares. It is assumed that JD.com will not just be an “indirect co-owner,” but may be interested in developing business in Russia.
"Petrovax," formerly owned by Vladimir Potanin's "Interros" until last year, has reached an agreement with the Chinese company Jiangsu Hengrui regarding the supply and subsequent localization of several oncology drugs, including camrelizumab, belonging to the same class as the American MSD's "Keytruda."
The ERC determined to add Jiangxi Xintuo Enterprise Co. Ltd., under the destination of China, to the Entity List for supporting Russia’s military through the procurement, development, and proliferation of Russian unmanned aerial vehicles (UAVs).
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'
The United States imposed sanctions for aiding the Russian military-industrial complex and circumventing export controls. Juhang Aviation Technology Shenzhen Co., which is accused of providing Russia with drone propellers, signal jammers, sensors and engines.
A Chinese brand that is present in Russia and is actively expanding in Ukraine.
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.
Binnopharm Group will begin sales in Russia of the botulinum toxin Lantox from the Chinese Lanzhou Biotechnique Development (LBD) in August 2024.
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). Chinese automaker Lixiang plans to open a dealership in Russia by the end of 2025.
In the second quarter, the first Chinese sportswear and footwear store of the Li-Ning brand was opened in RF