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
No official statement
Avind International Oy acquired in 2021 Transpoint International (FI) Oy and its two Russian subsidiaries owned by VR Group. With the acquisition, Avind will become one of Finland’s largest Russian logistics companies, that offers services also to CIS-countries, Central-Asia and China. Logistics company Avind from Khamina left its main market - "We left Russia because of the war, business is turning 180 degrees". Revenue increased in 2024 vs 2023 by more than +30%.
The company continues to work in Russia. "We have tried to express our view that being in Russia is not irresponsible, but rather in keeping with the spirit of the sanctions. It is inconsistent with our values to 'give away' our assets to players who may be under sanctions. Our Russian subsidiaries have undoubtedly continued would have its business under the control of a new owner, in which case any operating income would remain in Russia, and Elecster Group would lose a significant amount of property in Russia, as well as profits with which we could invest in Finland and other markets we believe that continuing our activities in Russia now and in this situation is in the interests of our stakeholders."
The Finnish company HD-Parts from Vantaa successfully exports trucks and spare parts to Russia worth millions of euros. This information was revealed by the Yle MOT investigation.
The USA expanded sanctions against companies and individuals from Russia. Finnish companies Siberica and Luminor, as well as members of their management who are citizens of France and Estonia, are also on black lists.
The Kremlin-connected Russians employed by Europe's Top security body. Baltic foreign ministers pull out of OSCE summit over Russia invite.
Produces parts for heavy trailer manufacturers, continued sales and export to Russia in 2023.
The USA expanded sanctions against companies and individuals from Russia. Finnish companies Siberica and Luminor, as well as members of their management who are citizens of France and Estonia, are also on black lists.
Owns russian subsidiary - Tremco CPG Finland Oy owns 100% of the outstanding shares in Tremco illbruck ooo, a Russian company.
Aluminum exports to Russia have doubled in a year – the Turku pin is behind it. Turvanasta is a family business from Turku, co-owned by the wife of the leader of the Finnish People's Party (RKP), Minister of Education Anders Adlerkreutz. A year ago, Turvanasta CEO Mikko Salakari acknowledged Russian exports in a press release, but appealed to subcontracting contracts that bind the company. According to Turvanasta CEO Mikko Salakari, the company does not know for which country the customer wants to receive pins when preparing an order. Salakari does not see a moral problem for the company that the products end up in Russia, since they cannot influence this. According to him, stopping the business would be more morally questionable due to the reduction in tax and export revenues and job losses.
Ahlstrom-Munksjö has discontinued exports to Russia and Belarus.
Bang & Bonsomer has suspended all new investments in Russia and will not engage in any new business in Russia until further notice. The company has been engaged in active negotiations to reduce its financial and legal liabilities in the country. Revenue decreased in 2024 vs 2023 by more than -20%.
Replaced Russian crude with other sources. (Previously purchased 2/3 of crude from Russia). Due to the new sanctions, Neste has suspended fuel supplies to the Finnish gas station chain Teboil, for which Neste was the primary fuel supplier. Neste has not officially confirmed the halt in fuel supplies to Teboil, which is wholly owned by Russia's Lukoil.
Regulators continue to remove economically significant organizations from foreign jurisdictions. Thus, the Ministry of Industry and Trade filed a lawsuit against the Finnish Arctech Helsinki Shipyard Oy, which owns 49% of the Nevsky Shipyard (SSZ), which may be related to the suspension of the foreign company's rights. As a result, the direct owner will probably be the United Shipbuilding Corporation, which manages the asset. Considering the Nevsky Shipyard's order portfolio with a high share of government orders, optimization of the ownership structure is logical, experts say.
Suspend all commercial activities in Russia. 26.11.2024: AMER SPORTS HOLDING GMBH LLC (Austria) becomes the new founder of the organization AMER SPORTS CJSC.
Stoped all sales to Russia & Belarus. Revenue decreased in 2024 vs 2023 by more than -20%.
The transmission capacity in the cross-border connections to Russia will be restricted to secure the power system
Rauanheimo and KWH Logistics has made a strategic decision to, under current circumstances, not renew existing contracts for transports of Russian goods, nor to sign any new contracts.
Stopped sales and deliveries to Russia. The Russian state concern Rosatom has filed a lawsuit in the Moscow Arbitration Court against the Finnish Fortum and Outokumpu Corporation for 227.8 billion rubles (2.45 billion euros), demanding compensation for damages due to the termination of the contract for the construction of the Hanhikivi-1 nuclear power plant.
Posti is suspending letter and parcel traffic to Russia and Belarus
Tampere electricity firm stops buying Russian-owned Teboil's fuel
After the start of Russian aggression in Ukraine, Gasum’s natural gas supplies continued as usual. The company commented that “an active dialogue is ongoing with the relevant national authorities and stakeholders regarding the situation”. But later, natural gas imports from Russia under Gasum’s supply contract was decided to be halted on Saturday 21 May at 07.00. Finnish Gasum has stopped taking LNG shipments from NOVATEK's Kryogaz-Vysotsk project in Leningrad oblast, according to Kpler data. Thus, one of the two tankers belonging to Gasum — Coral Energice — last called into the port of Vysotsk on April 24, and left without being loaded (the last batch of LNG was taken out by the ship on April 12). The second Gasum tanker, Coral Energy, called for the last time in the port of Vysotsk on April 4. Prior to that, tankers took several cargoes each month. Two gas tankers Gasum transported 17.46 thousand and 14.2 thousand cubic meters of fuel, respectively. Finnish state energy company Gasum continues to purchase a minimum amount of LNG from Russia under a long-term contract that is not subject to EU sanctions. Under the terms of the agreement, the Finnish company is obliged to pay Gazprom for a certain amount of gas annually, regardless of whether Gasum receives the gas or not. “If the company decided not to purchase this volume, it would still be obligated to pay for gas under the contract,” the company’s website says. Gasum will stop importing Russian LNG next month, in line the EU’s latest sanctions package adopted at the end of June 2024. Finnish energy company Gasum said it has ceased LNG purchases from Russia as the Nordic country gears up for a total ban on Russian gas.
Planning exit of business in Russia due to invasion of Ukraine, however will provide support to maintain networks. Had previously suspended deliveries (to comply with sanctions) and stopped new business and started removing R&D. Statement condemning Russian invasion of Ukraine. Pledge of over $1.3M UNICEF for humanitarian work in Ukraine. Nokia Solutions and Networks LLC, a Russian subsidiary of the Finnish Nokia Solutions and Networks, received large compensation from one of the related parties in 2023 amid the winding down of its activities in Russia. This follows from the explanations to the financial statements of Nokia Solutions and Networks, published in the Federal Tax Service database at the beginning of April 2024. On May 29, 2024 a decree was issued that allows Rostelecom's subsidiary to buy 49% of Nokia's shares - buyout approved.
Received revenues in Russia in 2022. Ceased to receive income in Russia in 2023.
Terminate Russian nuclear power plant project. In May 2022, Finnish Fennovoima terminated the contract, citing “significant delays” on the part of Rosatom, as well as the conflict in Ukraine. Rosatom believes that Finland had no grounds for such a decision. In the same year, Fennovoima demanded €1.7 billion from the Russian side, Rosatom filed counterclaims for €3 billion, and also demanded the return of a loan of €920.5 million. The first stage of hearings on the claims was held at the Arbitration Court in Paris. Rosatom" to the Finnish Fennovoima, which abandoned the joint project of the Hanhikivi NPP. The court found Finland's actions "unfounded and politically motivated".
Shifts strategy away from Russian airspace, as Russian airspace remains closed for Finland.
HMD Global has started the process of liquidating its Russian subsidiary HMD Mobile Russia, reports Kommersant.ru citing sources. HMD Global has made no official statement on the issue yet.
As a result of Russia's military actions against Ukraine, Lamor Corporation and all its controlled legal entities have ceased all business operations with Russian parties from the beginning of March 2022. Lamor Corporation or entities controlled by it no longer sell any technologies, services or solutions to Russia or has any financial transactions from or to Russia. Furthermore, Lamor Corporation or entities controlled by it do not have manufacturing in Russia or export any goods, raw materials, or technologies from Russia.
LocalBitcoins will stop serving Russian citizens.
Sells its business in Russia. Fully exit Russia after selling its operations.
Coninues with existing projects. No new agreements with the Russian operators. Revenue fell significantly in 2023. Revenue significantly (by -94%) decreased in 2024 vs 2023.
Received revenues in Russia in 2022. The company's website states that the activities of Roxia LLC in Russia have been terminated. The Finnish company Roxia has officially opened a new subsidiary, Roxia Central Asia, in Almaty, Kazakhstan.
S Group announced in March 2022 that it was withdrawing from the Russian market and announced it was selling off its Prisma stores in St.Petersburg. In addition to the three Sokos hotels, S Group owns one hotel property in St. Petersburg that is not part of the transaction and will be sold at a different point.
Offiicially VR Transpoint promised to suspend the traffic of freight wagons from Russia as of 12 noon on Sunday 27 March 2022 but then on March 30, according to the clarification received from the UK authorities, the sanctions "were in question did not apply to VR Group's contracts. VR Transpoint's eastern freight service will restart on Wednesday, March 30". On 6 April, the Board of Directors of VR Group made a decision to stop freight traffic between Russia and Finland and, on this basis, the company has prepared a plan to shut down traffic, in consultation with customers and taking into account the security of supply. The termination of contracts under the plan has been initiated and the traffic will cease completely by the end of the 2022 at the latest.
Announced exit Russian market BUT Fortum receives fuel from TVEL, a subsidiary of the Russian state concern Rosatom. The contract was concluded before the expiration of the current licenses for the operation of Loviis reactors. Fortum to record additional pre-tax impairments of approximately EUR 990 million related to its Russia segment. The Federal Property Management Agency received foreigners' shares in Unipro and Fortum under temporary management. Fortum has formally notified the administration of the President of the Russian Federation that it strongly objects the Decree No. 302 of 25 April 2023, based on which the Russian State Property Management, Rosimushchestvo, has seized Fortum’s Russian subsidiary PAO Fortum. Fortum to write off $1.9 billion after Russia seized assets. Fortum will file a claim for compensation after the nationalization of the Russian "daughter". Fortum plans to use up its existing Russian stock before switching to a western supplier. The Finnish energy company Fortum filed a lawsuit in a civil court in the Netherlands against the Russian PJSC "Forward Energo" (formerly PJSC "Fortum"). Fortum has exited all Russian operations and focuses solely on its Nordic strategy. In April 2023, Russian authorities seized Fortum’s assets under Presidential Decree No. 302, resulting in Fortum's loss of shareholder rights, full financial deconsolidation, and impairment of those assets, as reflected in its Q2 2023 results. The Russian operations, now renamed Forward Energo, are fully separated from Fortum Group.
28.06.2022: Nokian Tyres initiated ‘controlled exit’ from Russia. Nokian Tyres aims for Q3 decision on new plant to replace Russia production. Nokian Tyres plan to open a new factory in Romania following Russian exit. 16.03.2023: Nokian Tyres closed the sale of Russian operations and received EUR285m from PJSC Tatneft. The Government Commission for Control over the Implementation of Foreign Investments approved the purchase by Tatneft of the enterprises of the Finnish tire manufacturer Nokian Tires in Russia. The signing of the deal was announced on October 28, 2022. 16.03.2023: Nokian Tyres closed the sale of Russian operations and received EUR285m from PJSC Tatneft.
Left Russia. 12.04.2022: The full name was changed from LLC "FAZER" to LLC "KHLEBNY DOM". 19.05.2022: Kalyavin Vladimir Vladimirovich is no longer the CEO of the organization, Kozlov Dmitry Vladimirovich becomes the new CEO of the organization
Divested 3 corrugated packaging plants in Russia; 02.06.2022: Full name changed from LIMITED LIABILITY COMPANY "STORA ENSO PAKADZHING BB" to LIMITED LIABILITY COMPANY "NOVO PAKADZHING BB" STORA ENSO PACKAGING". 20.05.2022: LLC "NOVOPAK" becomes the new founder of the organization. The record about the founders of JSC "STORA ENSO PAKAJING" has been deleted. 06.07.2022: SETNOVO GROUP LLC becomes the new founder of the organization. The record about the founder JSC "STORA ENSO OYUY" was deleted.
The brand name was sold to Russian investors and the current operations have nothing to do with the Finnish company.
Reduce Russian operations; stop sales to aerospace. Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. A new deal with assets of a foreign company may be in the works on the Russian paint and varnish materials (PVM) market. Top managers of Tikkurila's Russian office have created a structure with the participation of a representative of an investment bank and may be planning to buy out a business controlled by PPG Industries from the USA. The owner of St. Petersburg-based Tikkurila LLC since February 5, 2025 has become Moscow-based SmartBusinessGroup JSC, according to the Unified State Register of Legal Entities. This LLC is the legal entity of the Russian business of the Finnish paint and varnish manufacturer Tikkurila. Before that, the company belonged to Finnish Tikkurila Oyj. 05.02.2025: JSC "SMARTBUSINESSGROUP" becomes the new founder of the organization LLC "Tikkurila". The entry about the founder TIKKURILA OYJ has been removed from the Unified State Register of Legal Entities.
Suspending business operations in Russia. Statement condemning Russia's invasion of Ukraine. Previously had suspended exports from Finland to Russia and Belarus, as well as imports of ingredients and packaging from Russia (operations consisted of a processed cheese factory, contract manufacturing partners, and sales offices). Sold business and Viola brand to Velcom.
Metso Outotec ends wind-down in Russia.
LLC "DM CAPITAL" and JSC "VALAN MANAGEMENT" become new founders of the organization. The record about the founder CLOSED JOINT-STOCK COMPANY WITH LIMITED LIABILITY "REIMA DANMARK APS" has been removed. The record about the founder COMPANY WITH LIMITED LIABILITY "REIMA EUROPE Oy" was deleted. Detsky Mir, which bought out the Russian business of the Finnish Reima, decided to develop a new Lassie children's clothing chain on this basis.
Left Russia. 17.05.2022: Full name changed from PAULIG RUS LLC to MILFOODS LLC. 08.06.2022: Van Heijs Dimitri is no longer the CEO of the organization. Soi Vikas becomes the new CEO of the organization
YIT withdraws from all operations in Russia by completing the sale of the businesses.
Suspended ESL Shipping operations in Russia. Leipurin operations were reduced. Statement condemning Russia. Donated 50,000 euros to the Finnish Red Cross Disaster Relief Fund (Telko exports to Russia). 05.2023: Aganisyan Artur Anatolyevich is no longer the head of the organization. Gusev Andrey Alexandrovich becomes the new head of the organization. 10.05.2023: JSC "GROUP OF COMPANIES "KHIMIK" becomes the new founder of the organization. The record about the founder of JSC "TELKO" has been deleted. The record about the founder of JSC "TROILI OY" has been deleted.
Exit business in Russia, LLC was sold to a local legal entity.
Lindström Group to sell its operations in Russia. The local company "LINDSTREM" LLC continued to actively hire employees. In April 2023, the company left the Russian Federation. 06.04.2023: "MTR" LLC becomes the new founder of the organization. Records about the founders of JSC "LINDSTREM OU" and JSC "COMFORTU OU" have been deleted from EGRUL. 11.04.2023: The abbreviated name was changed from "LINDSTREM" LLC to "LINDALY" LLC.
Suspended operations at Russian mill: suspended production in the Swir sawmill, Russia, Wood procurement in Russia and imports to Metsä Group's mills discontinued. Metsä Group completed the sale of its Russian subsidiaries to VLP Group. Finnish sawmill concern Metsa Group announced the completion of a transaction to sell all of its subsidiaries in Russia. The Vologda Timber Industry Group of Companies became the buyer of a 100% share of the Russian assets of the Finnish company.
Ponsse divests its subsidiary in Russia. Ponsse Plc has completed the sale of all shares in Ponsse LLC, its subsidiary that provided PONSSE services in Russia and Belarus. After the conditions of the transaction were met, Ponsse's business operations in Russia transferred to LLC Bison, a Russian company, and the trade received the approval of the local authorities.
Withdraw completely from the Russian market, the legal entity (JSC "FISKARS BRANDS RUS") is liquidated, in "PLANTYK" LLC, the record about the founder of FISKARS FINLAND OYU AB was deleted
29.06.2022: The full name was changed from "SOKOTEL" LIMITED LIABILITY COMPANY to "VAN HOTELS" LIMITED LIABILITY COMPANY. 11.07.2022: Petra Yukhany Schaaf is no longer the general director of the organization, Kadina Nataliya Aleksandrovna becomes the new general director of the organization
Teknos Group suspended its Russian operations in March 2022 and in April 2022 announced planning of controlled exit from Russian market. The process has been completed on 11th of July 2022 as 100% of shares in Russian entity – Teknos OOO - were sold.
Received revenues in Russia in 2021. Uponor Corporation has decided to suspend all exports and imports to and from Russia until further notice due to the ongoing invasion of Ukraine and donates to UNICEF and the Red Cross. Uponor has a manufacturing facility and a sales office in Russia, employing around 90 people. On March 1, 2023 Uponor completed Russian market exit in accordance with local government authority requirements. Uponor has divested its business in Russia to local management which provides a sustainable solution for employees and customers.
Signed aggreement to divest all Russian operations. Purmo Group, a global leader in indoor climate comfort solutions, has sold its Russian operations, ending all business in Russia. In 2023, Purmo's Russian business represented nearly 3% of its total net sales. Revenue increased in 2024 vs 2023 by more than +30%. 03.06.2025: JSC INNOVA GROUP becomes the new founder of the organization JSC EVRA VARME RUS. The entry about the founder PURMO GROUP FINLANDIA OY AB has been removed from the Unified State Register of Legal Entities.
Peikko Group in 2022: Turnover EUR 314 million with 23% growth. Revenue in Russia decreased from $18 mn in 2021 to $13 mn in 2022. Peikko’s presence in Russia changed significantly in February 2022. Immediately after the war began, Peikko substantially downsized the Russian operations, starting with the major dismissal of employees. During the months of May and June, Peikko decided to withdraw from Russia completely and started the exit process. By August, Peikko had changed the name of its Russian company, had separated the operation from the rest of the Peikko organization, and had started the process of selling shares. However, Russian legislation changed in September, which meant that a permission from the government must be obtained before the sale of any shares belonging to limited liability companies. Peikko did not obtain this permission during 2022 and the process was on-going till the end of 2024. 23.12.2024: The entry about the founder of PEIKKO GROUP OY has been removed from the Unified State Register of Legal Entities. FP HOLDING LLC (UAE) becomes the new founder of the organization LLC "FASTCON". It's not clear who is the real owner of the new founder.
The share purchase agreement with local management is subject to approval by the relevant regulatory authorities in Russia and is expected to close during the fourth quarter of 2022. The value of the planned transaction is not disclosed. Following the closing of the deal, the business will operate independently under a different brand. Data from the registry: The record about the founder OPEN JOINT-STOCK COMPANY WITH LIMITED LIABILITY "KONE OYU" has been deleted. The company was renamed to JSC "LIFTCONNECT". Russian assets of the Finnish elevator manufacturer Kone transferred to S8 Capital.
Concluded total exit from Russia. 25.04.2022: Natalya Lvovna Svetushkova becomes the new founder of the organization, Safronov Konstantin Andreevich becomes the new founder of the organization. The record about the founder JOINT STOCK COMPANY "TIETO GLOBAL" has been deleted. 29.04.2022: Full name changed from LLC "TIETO RUS" to LLC "FORIGHT"
Stop all orders from Russia. Konecranes has now started to deliver its final crane order to Russia. The order – cranes for a Waste-to-Energy recycling site outside Moscow – was placed in 2019 by a European company and subsequently delayed by Russia’s invasion of Ukraine. Once this order has been delivered, Konecranes will have no further outstanding orders to Russia. Konecranes, a titan in the crane manufacturing industry, has initiated the liquidation of its Russian subsidiary, Konecranes Demag Rus JSC, headquartered in St. Petersburg. This decision, set to culminate by February 2, 2024, marks the end of Konecranes' operations in a country that has become increasingly isolated due to geopolitical tensions. 27.02.2025: The legal entity JSC "KONECRANES DEMAG RUS" was liquidated.
Exit Russia completely. 24.03.2022: The record about the founder of JSC "KEMIRA EUROPE OYU" was deleted.
Local company - "VR TRANSPOINT" LLC, tax id 4704089073 was renamed at the end of 2022 after the sale to Avind International in 2021. Offiicially VR Transpoint promised to suspend the traffic of freight wagons from Russia as of 12 noon on Sunday 27 March 2022 but then on March 30, according to the clarification received from the UK authorities, the sanctions "were in question did not apply to VR Group's contracts. VR Transpoint's eastern freight service will restart on Wednesday, March 30". On 6 April, the Board of Directors of VR Group made a decision to stop freight traffic between Russia and Finland and, on this basis, the company has prepared a plan to shut down traffic, in consultation with customers and taking into account the security of supply. The termination of contracts under the plan has been initiated and the traffic will cease completely by the end of the year at the latest.
Finnish food manufacturer Raisio sold its subsidiary in Russia to the Russian company Copacker Agro. The right to the Nordic brand will be sold to the Estonian Nordgate Trading Oü. 24.05.2022: The full name was changed from RICE NEWTRESS LLC to NORDIC NEWTRESS LLC. 15.06.2022: Dunaevskaya Svetlana Yulievna is no longer the CEO of the organization, Kichigin Andrey Borisovich becomes the new CEO of the organization
Exited from Russia. 20.05.2022: Full name changed from LIMITED LIABILITY COMPANY "AKKAUNTOR RUSSIA" to LIMITED LIABILITY COMPANY "KONSU"
Selling a company in Russia but at the same time, they left the full distribution of goods and the official website with contacts of representatives in Russia. 10.2023: IEK HOLDING LLC becomes the new founder of the organization. The entry about the founders of JSC "ENSTO BUILDING SYSTEMS OY" and JSC "ENSTO BUILDING SYSTEMS FINLAND OY" has been removed from the Unified State Register of Legal Entities. 25.06.2024: JOINT STOCK COMPANY "LIM-GROUP" becomes the new founder of the ENSTO BUILDING SYSTEMS organization.
Initially temporarily suspended operations and sales in Russia. UPM has sold all its business operations in Russia to Gungnir Wooden Products Trading. In January 2023, it was reported that "UPM sold its assets in Russia to JSC "Astranaut Rus Holding Oyj", a structure that is part of the holding." (intragroup sale). 27.02.2025-28.02.2025: JSC CRAFTCAPITAL becomes the new founder of the organizations LLC "UPM-Kymmene" and LLC "UPM-Kymmene Chudovo". The entry about the founder GUNGNIR WOODEN PRODUCTS TRADING CO. L.L.C. has been removed from the Unified State Register of Legal Entities.
Abloy has had a sales company in Russia. After the outbreak of the war in Ukraine, it stopped deliveries and business in Russia at the beginning of March 2022. 04.10.2024: The legal entity ABLOY LLC was liquidated.
Harvia Plc has signed an agreement to sell its 80.0% shareholding of EOS Russia to Mr. Vasilij Sosenkov. Harvia closes divestment of its ownership in EOS Group’s Russian operations.
A statement was published on the write-off of one-time costs associated with the termination of the group's operations in Russia. As a reluslt of Russia's war of aggression against Ukraine, Onion decided to discontinue business operations in Russia and, in November 2022, all operational activites ceased. All one-off costs associated with discontinuing operations have been recognized in the operating year's profit/loss account. 04.09.2024: The legal entity OILON RU FACTORY LLC was liquidated.
Outline steps to stop procurement of building materials from Russia. SRV Yhtiöt Oyj sells most of its remaining Russian holdings, continuing its exit from the country. SRV Yhtiöt Oyj sells most of its remaining Russian holdings, continuing its exit from the country (sold stake in one shopping center, negotiating remaining assets). 05.2024: Petrov Alexander Yuryevich becomes the new founder of the organization. The entry about the founder of REALTY HOLDING JSC was removed from the Unified State Register of Legal Entities.
Finland's Boreo sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni (local management and Russian shareholder).
Caverion has exited its Russian operations and has no operations in Ukraine.
Received revenues in Russia in 2021-2023, but in March 2022 Kemppi suspended all operations in Russia. 13.11.2024: The status of the legal entity KEMPPI LLC has been changed to "In the process of liquidation". 21.07.2025: The legal entity KEMPPI was liquidated.
Seeking exit from Russian business. With the approval of the Russian authorities, Kiilto has now been able to sell all its Russian subsidiaries. After a transition period, Kiilto brands will no longer be sold in the Russian market.
Koskinen manufactures and markets wood products, 7/07 has sold its sawing operations located in Russia to Cherepovetsles, 8/03 discontinue its operations in Russia
Stopped processing payments to and from Russia & Belarus. JSC "Nordea Bank" was liquidated on 21.04.2022.
Finnish railway operator Nurminen Logistics has launched a route to China bypassing Russia. The route starts in China and runs through Kazakhstan, Azerbaijan, Georgia and Romania to Central Europe. This was reported by the press service of Nurminen Logistics. Nurminen Logistics, a listed company, is making significant profits. It also transports Russian nickel and fertilizers to Finland. Ceased to receive income in Russia in 2023. 19.11.2024: The status of the legal entity NURMINEN LOGISTICS LLC has been changed to "In the process of liquidation".
Stop exports to Russia. Finnish Orion Pharma has started the liquidation of its Russian office - it is planned to be closed by the end of 2022. Divested the rights of some of its self-care brands in Russia. Finnish drug manufacturer Orion Pharma is suffering critical losses after leaving the Russian market. The exit itself was not complete because there were no changes in the ownership structure. Also, according to preliminary data, the company's management expects to return to the Russian market in the near future. 19.07.2025: Aleksandr Mayevich Prilepin is no longer the organization's CEO. Anastasia Artemovna Katanisi has become the liquidator of ORION PHARMA.
Selling off all businesses in Russia. S Group sells St. Petersburg hotels to two Russian investors and IT entrepreneurs, Aleksandr Yermakov and Yuri Shumakov.
SATO Corporation has completed its divestment of Russian housing business 14 April 2023. SATO has operated in St. Petersburg since year 2007 and had 522 rental apartments.
Aspo Group’s subsidiary Telko has signed a binding framework agreement according to which it will sell the share capital of its Russian subsidiary Telko LLC to Russian industrial operator GK Himik. The purchase price is approximately EUR 9.5 million. Rights to Telko's name and trademarks are not included in the sale. The completion of the transaction requires an approval of the Russian authorities. Aspo's subsidiary Telko completes the sale of its Russian operations.
11.07.2022: Nortsev Konstantin Gennadievich becomes the new founder of the organization. The record about the founder of JSC VYARTSILYA TECHNOLOGY was deleted from the register