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 CompletedWorkers of Lunsin LLC, a Tuvan subsidiary of the Chinese Zijin Mining Group, accused the company of discrimination in wages. The company is developing the Kyzyl-Tashtyg polymetallic deposit. The Biden administration has added 37 more Chinese companies to a "blacklist" banning imports of their products into the United States over their alleged use of forced labor in the Xinjiang region. The list includes mining giant Zijin Mining Group, according to a statement from the U.S. Department of Homeland Security. China's largest mining company wants to leave Russia because of sanctions. We are talking about the Kyzyl-Tashtyg Mining and Processing Plant OOO "Lunxing", owned by the Chinese Zijin Mining Group, which is one of the largest companies in China. From June 1, the enterprise will be downtime due to the fault of the employer. The decision was explained by "financial difficulties" due to a significant expansion of sanctions against the Russian financial sector and the subsequent refusal of Chinese banks to work with Russian financial institutions, which "led to a delay in payment for the products sold by OOO "Lunxing".
OOCL Logistics, which manages a fleet of 70 container ships, including two icebreakers, has stopped shipping dresses, skirts, trousers, shoes and other clothes already paid for from its warehouses in Shanghai and Shenzhen to Vladivostok. The company cites sanctions as the reason for the refusal. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
ZTE has reduced the scale of its business in Russia due to sanctions, but it is not completely leaving yet. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
Initially promised to terminate all deliveries to Russia, everything that will not be sold by March 24 and will remain in Russian warehouses, Dahua will take it back. But the company continued to work on the Russian market. The main difficulties in the formation of a profitable pricing policy in 2022 were associated with the volatility of the ruble. "Dahua Russia" is the main distributor of products in the Russian Federation and works in the B2B segment. As a result, the main partners of Dahua Russia, distribution networks and flagship stores adopted a wait-and-see policy and suspended the purchase of goods. Included in the list of international war sponsors by NACP. Significantly reduced revenue in 2023 vs 2022. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
All CUAV products shall not be sold to Ukraine, Russia and other countries where wars are taking place. They urge not to integrate CUAV products into UAVs, directly or indirectly sell to Russia, Ukraine.
Business as usual. The Chinese Vanke Group, which received the rights to the restoration of the Imperial Educational House and the complex of the former buildings of the Academy of Missile Forces near the Kremlin, began to look for co-investors due to the increase in the project budget. The Chinese Vanke Group has decided to finally get rid of its only project in Russia - the restoration of the former Imperial Orphanage near Zaryadye Park in the center of Moscow. The group agreed to sell the asset, estimated at 30 billion rubles, to the Kyiv Ploshchad Group of Companies, founded by God Nisanov and Zarakh Iliev. Market participants explain the Chinese group's withdrawal from the project by the decline in its attractiveness over two years of geopolitical crisis. In addition, Vanke had difficulties in its home market.
Exits Russia till the end of June 2022. All Watsons stores in Russia are closed as early as the summer of 2022 (the closing process has been ongoing since the first days of Russia's full-scale invasion of Ukraine); all employees are dismissed, except for two for reporting, other administrative work, since closing a legal entity takes more time than a store; further liquidation of the legal entity in Russia is planned; the page https://www.instagram.com/watsonsrussia/ is closed and does not work; the Russian website also no longer exists. That is, in fact, commercial activity will be suspended in the summer of 2022 with the subsequent liquidation of legal entities.