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 CompletedThe National Agency on Corruption Prevention (NACP) has added Bolero, a leading Georgian group of wine companies, to the list of international sponsors of war.
Georgia Airways founder Tamaz Gayashvili welcomes Russia's decision to start direct flights between the Sahara. In particular, yesterday, Russian President Vladimir Putin canceled the decision to ban direct flights with Georgia. Putin's decree entered into force immediately after signing. Gaishvili, whose company operated Tbilisi-Moscow flights before the air embargo, does not rule out the resumption of flights, although he adds that it will take some time to obtain permission for flights and frequencies.
Tbilvino has made a strategic decision to suspend economic activity in Russia
Bank of Georgia massively closes accounts for Russians.
The bank stopped working with "Unistream". Metalloinvest filed a lawsuit against the National Bank of Georgia due to blocking of assets.
One of the largest Georgian banks, TBC Bank, has begun to warn clients that it may close their accounts if transactions related to the circumvention of Western sanctions against the Russian Federation are detected.