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 businessPausing Investments
Reducing Activities: company scaling back some business operations while continuing othersScaling Back
Pause operations: company temporarily curtailing operations while keeping return options openSuspension
Clean Break: the company completely halting Russian engagements or exiting RussiaWithdrawal
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the marketExit Completed
Reduced operations due to sanctions, Ferronordic and Volvo CE have agreed to terminate the dealer agreement for Russia, continues to service and repair the existing fleet of Volvo CE machines in Russia, evaluating strategic options, including a potential divestment or downsizing the operations; Ferronordic and Sandvik terminated their dealer agreements for Russia.
Semrén & Månsson Arkitekter cut all collaboration with the Russian branch early March 2022 (but website https://semren-mansson.ru/ still exist). The board of Semrén & Månsson has since June 2022 decided to divest the Russian branch, aiming to minimize the impact on the employees and ensure an orderly and responsible process in accordance with regulatory and legal obligations. Furthermore, Semrén & Månsson donated 100,000SEK to support the UNHCR’s humanitarian efforts in Ukraine and will, of course, always follow the political directives set by the Swedish government.
Reducing production and sales of vehicles in Russia. Suspended delivery of trucks and parts to Russia (Manufacturing in St. Petersburg). 13.09.2022: Scania makes a provision for Russia in connection with the disposal of Sales and Service operations and Financial Services in Russia.
The Swedish electronic and audiobook service Storytel will leave the Russian market on October 1, funds for unused subscription days will be returned to customers. pause its operations in Russia until further notice, including halting all content production and new content acquisitions in Russia.
Fold up Russian presence. IKEA stores owner Ingka Group said in response to speculation that it might resume sales in Russia that it was open to returning one day but the conditions were not in place right now. IKEA reopens for online fire sale in Russia before market exit. It is noted that the application for the liquidation of "Ikea House" LLC was submitted on August 15, the relevant documents will be ready on the 23rd.
Tetra Pak has now reached an agreement to divest its Russian business to local management, with the intention of enabling business continuity for its customers, minimizing the impact on employees, and continuing to support consumers’ access to essential food.
Planning exit of business in Russia, will gradually wind down business activities in Russia over the coming months. Previously had suspended deliveries to Russia while evaluating further actions.
2.09.2022: Decided to exit Russia and divest the business to local management through a sale of its Russian subsidiary, subsidiary Electrolux Professional is selling its Russian business.