Pause operations: company temporarily curtailing operations while keeping return options open
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Alibaba is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.
Pause operations: company temporarily curtailing operations while keeping return options open
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Global 500Alibaba has a joint venture in Russia. On the territory of Russia, the online commerce platform AliExpress, which is managed by the Russian subsidiary of the Alibaba Group LLC “Alibaba.KOM (RU)”, has become the most widespread. The owner of Alibaba.KOM (RU) LLC is Aliexpress Russia Holding Private Ltd, registered in Singapore. As of 2023, the company continues to conduct business in Russia, providing an international platform for sales of foreign goods. The profit of Alibaba.KOM (RU) LLC for 2022 amounted to 16.3 billion rubles (about $160 million).
The Russian Federation and the People's Republic of China already have experience of cooperation in the IT sphere. One of the Russian developers works with the Chinese company Alibaba Group. The National Agency on Corruption Prevention (NACP) included the Chinese group of companies Alibaba Group Holding Limited, which owns the largest online commerce platform AliExpress, on the list of "international war sponsors". The reason for this decision in NAZK was called the continuation of the company's work in Russia, in particular, the provision of a platform for the sale of goods produced by the Debaltseve plant of metallurgical engineering in the DPR. The Chinese company Alibaba, which owns the AliExpress marketplace, has tightened conditions for Russian business: it has stopped accepting rubles and does not allow delivery to Russia.In 2022, Alibaba stopped investing in the Russian subsidiary of AliExpress. In 2023, the company's revenue in Russia decreased by 36%, to almost 10 billion rubles.