Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal

ABB is a Swedish-Swiss multinational company specializing in electrical engineering and power engineering.

Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal
Revenue(RF), mln.USD
0
Assets(RF), mln.USD
42
Capital(RF), mln.USD
11
Glob.Revenue, mln.USD
32235
Staff(RF), 2021
1116
The Company Statement
May 08, 2025

ABB has decided to exit the Russian market due to the ongoing war in Ukraine and impact of related international sanctions. When the war broke out, ABB stopped taking new orders in Russia. At the same time, it has been fulfilling a small number of existing contractual obligations with local customers, in compliance with applicable sanctions. It was still “working on completing the exit […] in compliance with all applicable laws and sanctions.” Swedish-Swiss electrical equipment manufacturer ABB Ltd. has received permission to sell its Russian business. JSC Concept-Invest has received permission to purchase 100% of shares in ABB LLC, according to Russian President Vladimir Putin's order No. 157-rp of May 8, which was published on the official Internet portal of legal information. The seller of 99% will include ABB Asea Brown Boveri Ltd. and 1% of ABB Verwaltungs AG (both companies are registered in Switzerland). Revenue significantly (by -99%) decreased in 2024 vs 2023.

February 19, 2023Only 18 Swiss companies have completely exited Russia, says Yale professor
July 21, 2022ABB to exit Russian market
March 02, 2022ABB pauses intake of orders from Russia, Ukraine and Belarus
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