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
The company promised to stop new investments in Russia. It is continuing to work in Russia, and are taking all required measures to ensure an uninterrupted supply of medicines. Despite the statements of international pharmaceutical companies about the suspension of new tests in Russia after the start of military operations in Ukraine, the British-Swedish AstraZeneca will conduct a study of a new drug for the prevention of COVID-19 in the Russian Federation, which is necessary before its registration. AstraZeneca has spent about £45 million to pay Russian doctors since Moscow invaded and its chief said ‘medicines are never under sanctions’.
London-listed information technology firm Softline said, it would sell its Russian business to its founder Igor Borovikov or an entity controlled by him. Softline system integrator is negotiating the purchase of Forward Leasing (Forward Leasing LLC), which provides a “subscription” service for smartphones and other user devices, including laptops, in the leasing format – a buyout with a low monthly payment and the ability to exchange a device for a new one. until the entire amount is paid. 08.2023: Authorized capital increased from 100,000 rubles to 120,000 rubles | Kichko Dmitry Vladimirovich becomes the new founder of the organization. Russian part of the group was sold to the ZPIF of Tethys Capital Management Company. The government subcommittee did not approve the deal for the acquisition of a stake in Mosbirzha by the Softline group of companies from the European Bank for Reconstruction and Development (EBRD). Russian software firm Softline expects to grow 36% in 2025.
Will continue to supply essential medicines, vaccines, medical devices, and equipment in Russia. Halted clinical trials, advertising, and promotion. Russian sales proceeds to go to humanitarian aid (no manufacturing and little raw materia/suply chain reliance). Still operating in Russia with increasing sales and profit volumes in 2022 vs 2021. After the start of Russia's war against Ukraine, the volume of product exports to Russia increased.
Received revenues in Russia in 2021-2022, there is no any official announcement. In March 2024, a statement appeared on the company's website that since the beginning of the war in early 2022, the company has significantly reduced its operations in Russia and strictly fenced off its Russian subsidiary from wider business. But the revenue for 2023 increased and the company did not fulfill the promise.
Continuing to supply social selling representatives in Russia. Suspending Russian Avon exports. Continuing Russian manufacturing operations, which primarily produce cosmetics for the local market (Fragrance portfolio is currently produced in Russia). The international cosmetics concern Avon, which announced more than a year and a half ago that it would cease investing in Russia, has so far decided not to leave the country. Avon halts Russian business sale.
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
The company is still operating with higher revenue in 2022 vs 2021 based on open data. According to information provided KSE source they only suspended new hiring in Russia and apparently new getting new clients in Russia. The Development office in Saint Petersburg and office in Moscow are still active and working for Russian clients.
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Announced about moving production of its JJ Whitley vodka brand from Russia to the UK but significantly increased revenue in 2022 vs 2021. The Russian structure of the British alcohol producer Halewood has faced a series of lawsuits due to the use of the Russian Vodka designation on product packaging.
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
There is no statement on the company's website about the termination of cooperation with the Russian Federation. On the company's website there is information about the representative office in Russia.
There are no relevant news
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
Received revenues in Russia in 2022.
Received revenues in Russia in 2021, there is no any official announcement
The leading manufacturer of football fields, SIS Pitches, seems to be continuing its work in the Russian Federation for the ninth month of the war.
Still operating and actively hiring in Russia.
Argus launches freight rates for Russian petroleum products exports.
No material business in Russia or Ukraine.
ATP fines Lawn Tennis Association for banning Russian, Belarusian players.
The share of Russian traffic on the Bitfinex exchange grew to 22% in May 2024.
Braemar shares slide after report shines spotlight on Russian shadow fleet deals.
Keeps insuring Russian crude oil tankers
Possible blocking of access to British Admiralty maps will lead to significant problems for Russian ships, List of map distributors - https://www.admiralty.co.uk/how-to-buy
Did not respond to Architect's Journal request about status of Russian projects.
The British company DB Ventures has registered the David Beckham trademark with the Russian Rospatent.
UK refinery owner extends credit facility with arm of oil firm part-owned by Russian who is under sanctions. Stanlow operator Essar stopped all imports of Russian fuel in 2022 but has arrangement with Litasco.
Business as usual, discusses sale of assets " for the benefit of ... shareholders". Eurasia Mining PLC (AIM:EUA) has said it continues to work towards selling its Russian assets although, at no present, there is no guarantee that the company will enter into any binding agreements regarding the sale of these assets.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
The items exported by FTDI are not in breach of UK sanctions, but they are on a list compiled by the European Commission of dual-use goods and advanced technologies that are used in Russian military systems or critical to their development.
Gemcorp was founded by a foundation backed by two Russian oligarchs linked to Sergei Chemezov, the powerful boss of Rostech, Russia's state-owned arms giant. He is a close friend of Putin and served in the KGB together with the Russian president. In 2022, Gemcorp announced that it had severed ties with Russia last year and closed its Moscow office. But the origins of his success show how money from businessmen now allegedly linked to the Kremlin was used to gain a foothold in Britain's financial sector.
Two sanctioned Russian oligarchs have become co-owners of Britain's biggest oil producer after it completed a deal to buy the German company. LetterOne, an investment company partly owned by oligarchs Mykhailo Fridman and Petr Aven, now owns almost 15% of Harbor Energy. Harbor Energy is the largest producer of oil and gas in UK waters. It bought most of the oil and gas assets of the German firm Wintershall DEA from the chemical giant BASF.
From 2023 to 2024, a company part of British aerospace manufacturer HR Smith Group shipped equipment to an Indian firm that is the largest trading partner of Russia’s arms agency Rosoboronexport. HR Smith Group said its sales were legitimate and that the equipment was intended for India’s search and rescue network. The records do not prove that HR Smith’s products ended up in Russia. But they show that in some cases, the Indian company received equipment from HR Smith and within days sent spare parts to Russia with the same product identification codes. The components are for civilian and military use and have been designated by British and American authorities as critical to Russia’s military operations in Ukraine. Officials have urged exporters to conduct thorough checks to ensure their customers are not diverting banned equipment to Moscow. Indian state-owned company Hindustan Aeronautics is listed in public documents as a supplier to the Russian army, but is not subject to financial sanctions.
No official statement
Suspended Russian partnerships. But later the International Tennis Federation (ITF) has decided to allow Russians and Belarusians to compete at the 2024 Olympic and Paralympic Games in Paris as neutrals.
No official statement
In a London Stock Exchange notice made today (27 October), the board said that because of "the inability to dispose of these under the current sanctions and restrictions, the company also needs the flexibility within its new investment objective and policy to continue to hold Russian securities".
No public action found. (E-commerce and third party sales in Russia.)
Russian carmaker GAZ Group agreed to buy British vanmaker LDV and said it planned to expand production at the firm's plant in central England.
Continuing operations
Mykines Corporation LLP has been actively supplying the aggressor country with telecommunication network equipment and consumer electronics since the beginning of Russia's full-scale invasion of Ukraine despite the sanctions. The entries list brands from Huawei and H3C to Intel, AMD, Apple and Samsung.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.INTERNATIONAL LIMITED LIABILITY COMPANY “CENTROFERVE LIMITED” has a statutory capital of 1.95 billion rubles. Its shareholder was the British company NORD GOLD PLC, which is included in the sanctions lists of the United States, the United Kingdom and Ukraine. Its beneficiaries are the sanctioned Russian billionaire Alexey Mordashov and his wife Marina.
North Wind Capital provides UK real estate financing through unusual structures. North Wind Capital, a little-known company that has been operating for two years, helped arrange financing for a potential buyer. The London-based firm has a niche in providing and arranging financing for deals that traditional lenders typically avoid. She received support from a trust owned by the family of Boris Mints, another Russian financier living in exile in the West.
Odgers Berndtson is one of the Top Executive search company in Russia.
Since 2019, P&O Ferries belongs to the Dubai company DP World. After the invasion of Ukraine, DP World signed agreements with the Russian state nuclear corporation Rosatom. The company, headquartered in Dubai, is a partner in Vladimir Putin's Northern Sea Route project, an Arctic route between Europe and Asia.
In March 2022, Paysend, an international payment system founded by Russians and headquartered in the United Kingdom, announced its withdrawal from the Russian market. The foreign money transfer system Paysend, which formally announced its departure from Russia, in fact continued to operate in the country, taking advantage of a significant reduction in competition. (PS Development LLC and PS Processing LLC have business in Russia under Avosend trademark. Both companies are assumingly tied to Paysend Group Ltd or Paysend Nominees Ltd (UK) via PS Holding LLC (RU). PS development LLC earned more 1 bln. Roubles in 2023 as developer of Avosend app.)
Russian Gold Miner Petropavlovsk Files for Administration in London
The Pladis company continues to sell in the Russian Federation. The company Prestige Rus TOV is the representative office of the company Pladis Global in the Russian Federation, www.pladisbrands.com, www.pladisglobal.com.
No public action found. (Distribution office in Russia.)
Renishaw cuts profit forecast amid Russia pull-out and China lockdowns. Since the beginning of the war, Renishaw has closed its business in Russia and Belarus, writing off assets by approximately 2.5 million euros and losing approximately 1% of revenue (the company's revenue for 2022 is about 800 million euros). The company said in the report that it "attempts to monitor any efforts to source products through alternative means." But customs data show that this is not going well: in 2023, approximately 3.5 million euros worth of Renishaw equipment was imported into Russia (360 million rubles to be precise). And the minimum software required for the operation of the equipment is freely available.
Suspended Alrosa membership (April 1st) after pressure from jewelry retailers who had left the organization due to RJC inaction. Prior to that it had just advised its members to comply with sanctions. Has not urged its members to stop doing business with Russia.
The company has one of the hotels in St. Petersburg. This is stated on their official website.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Seapeak Maritime Limited, based in Glasgow, owns and operates five giant icebreakers carrying fuel from Siberia.
Did not respond to Architect's Journal request about status of Russian projects.
The London-based company SteadyPay brought Oleg Vaksman, ex-deputy board member of Gazprombank, and Mykyta Izmailov, former financial director of Parimatch, to the board of directors.
Keeps insuring Russian crude oil tankers
The company continued deliveries to Russia, although it said it would stop them.
Keeps insuring Russian crude oil tankers
Keeps insuring Russian crude oil tankers
Virgin Media 02 is to buy a British broadband company owned by a Russian oligarch-backed investment company, after the government forced its sale on national security grounds.
Keeps insuring Russian crude oil tankers. Five insurers, including American Club, Luxembourg-headquartered West of England and Norway's Gard, have covered 10 tankers that have left Russia for Asia this year.
Begins a process aimed at transferring ownership of its Russia business. Strepsils maker Reckitt Benckiser said in April 2022 that it would transfer ownership of its Russian business to a third party or local employees, but so far has failed to do so. Trading data shows that Reckitt Benckiser Exports into Russia. Freeze capital investments, advertising, sponsorships and promotions in Russia. Began process of aimed at transferring Russian business.
Suspend investments
Temporarily shut stores in Russia (Three stores; one owned by a franchisee). Suspended shipments to Russia. Burberry is still being sold in Russia. Revenue in RUB increased by 12% in 2023 vs 2022.
Continued relations with Russia. BT has been forced to continue its relationship with Russia's state-backed telecoms operator despite attempts to join a corporate boycott over the war in Ukraine. The British telecoms giant is understood to have explored whether it could sever ties with Rostelecom as part of backlash over Vladimir Putin's invasion. However, BT has pulled back from taking such action because it would mean people in the UK would no longer be able to make calls to Russia.
Discontinuation of associated Russia activities.
Rolls-Royce Motor Cars has new cars for sale in Russia and claim they don't know how. Cars from British manufacturers, including Rolls-Royce and Bentley, are still coming to Russia despite sanctions imposed over the war in Ukraine. Elite cars are imported, bypassing restrictions, through third countries, mainly through Azerbaijan.
Smith&Nephew says the company does not ship directly from Russia, but continues to supply essential products
An investment firm has promised to ditch its shareholdings in Russian companies,
Standard Chartered restricts transactions with covered areas (targeting so-called Donetsk People’s Republic and Luhansk People’s Republic of invaded regions of Ukraine)
Paused all operations and exports of machines and parts in Russia. Operations include offices and a factory supplying Russian market. JCB stopped exporting to Russia in early March, saying it would “pause” operations in the country. But an Observer investigation reveals how Lonmadi and Kwintmadi have continued to sell JCBs, even offering customers credit from Gazprombank Autoleasing, an arm of Russian bank Gazprombank, to buy them. No official position, they were present on recent Moscow Truck Expo.
Lancome, Yves Saint Laurent, Armani and other brand of Kering are returning to Russia: when cosmetics will appear in stores.
Stopped all Russia-related work. It is one of the first law firms to publicly condemn the Russian invasion. Morgan Stanley and Allen & Overy helping oligarch’s efforts to seize Russian oil firm.
Cautiously returned to the market for Russian government and corporate bonds.
Parent company: Volkswagen Group - suspended all shipments to Russia. Cars from British manufacturers, including Rolls-Royce and Bentley, are still coming to Russia despite sanctions imposed over the war in Ukraine. Elite cars are imported, bypassing restrictions, through third countries, mainly through Azerbaijan.
Chelsea signed sponsorship deal with Russia-linked crypto firm.
Leaving the Russian market- Moscow office continues as an independent law firm (80 employees)
De Beers said it had removed Russia from its third-party sourcing list after the Ukraine war started in February 2022, and was adamant that it no longer sourced any Russian diamonds.
Will not supply Russian clients with “luxury goods” > £300. Company director, David Crisp, is accused of knowingly breaking the export bans after continuing to offer his perfumes to Russia well into 2023, according to a London civil court ruling published last week. Evidence put before the court apparently showed Crisp had told an undercover private investigator that the Russian market was doing “really well” and that he ignored “government edicts.”
Statement condemning Russian invasion of Ukraine. Closing office in Russia. Suspending work with Russian state. Pledged support for Médecins sans Frontières. UK financial authorities have ordered law firm HSF to pay £465,000 for transfers of £3.9m to sanctioned Russian banks and their subsidiaries. HSF has admitted guilt, citing human error.
Not taking new work in Russia.
Rostelecom and Megaphone companies were disconnected from the traffic exchange point, which is located in London
Suspended some Russian imports. Russian aluminium giant Rusal mulls selling directly on LME. The London Metal Exchange (LME) said it has suspended the inflow of Russian base metals into its US registered warehouses due to the planned imposition of tariffs on Russian metal by the United States. The London Metal Exchange (LME) banned from its system Russian metal produced on or after April 13, 2024 to comply with new U.S. and UK sanctions imposed for Russia's invasion of Ukraine.
Suspended new business activities in Russia but fulfill existing obligations and business to the extent possible and support the existing customers and channel partners in compliance with sanctions.
Has temporarily paused Russian accounts. OnlyFans website temporarily stopped opening in Russia. And then it started to work again.
Paul Smith said it was pulling out of Russia almost a year after most western brands stopped trading in the country following the invasion of Ukraine. In January 2023, Paul Smith, which at that time was openly trading in Russia, was exposed to criticism for its work in Russia. This led to the sudden announcement that the brand would be leaving - and, at first glance, it looked like it had been done. Its outlet in the GUM mall is gone.However, some Paul Smith products are available online through other retailers such as wholesaler Stockmann, meaning socks, underwear, T-shirts, shorts, sneakers and sweatshirts find their way to grateful Russians who are interested The Ozon retail platform also promotes Paul Smith perfumes, bags, belts and T-shirts. The luxury retailer says it has never had direct contact with the two sellers, but admits that "independent entities" and "intermediaries" are "outside of our control."
Cease activity with Russian customers & cease promotion of Russian universities
Refusal of further receipts from Russian suppliers
Truphone to Pay $600,000 U.S. Fine, Ensure Russian Ownership Divested.
Banned Russian athletes but currently Wimbledon plans to scrap Russia player ban. Wimbledon cave in to pressure and LIFT ban on Russian players for this year’s Championships - but stars will be kicked out if they show any support for Vladimir Putin’s country and will compete under neutral flag. Wimbledon has also banned its merchandise from being sold in Russia and Belarus as part of its ongoing condemnation of the war in Ukraine.
The Group has reached agreement in principle to sell the business to their local partners, subject to legal and binding agreements. Will transfer its ownership stake of its joint venture in the region to a local partner. Increased revenue in 2023 vs 2022.