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
Reduce Russian operations; stop sales to aerospace. Due to the inability to sustainably operate at even the bare minimum, PPG Industries has made the decision to activate options to exit Russia, including a possible sale or controlled exit from the Russian market. A new deal with assets of a foreign company may be in the works on the Russian paint and varnish materials (PVM) market. Top managers of Tikkurila's Russian office have created a structure with the participation of a representative of an investment bank and may be planning to buy out a business controlled by PPG Industries from the USA. The owner of St. Petersburg-based Tikkurila LLC since February 5, 2025 has become Moscow-based SmartBusinessGroup JSC, according to the Unified State Register of Legal Entities. This LLC is the legal entity of the Russian business of the Finnish paint and varnish manufacturer Tikkurila. Before that, the company belonged to Finnish Tikkurila Oyj. 05.02.2025: JSC "SMARTBUSINESSGROUP" becomes the new founder of the organization LLC "Tikkurila". The entry about the founder TIKKURILA OYJ has been removed from the Unified State Register of Legal Entities.
Teknos Group suspended its Russian operations in March 2022 and in April 2022 announced planning of controlled exit from Russian market. The process has been completed on 11th of July 2022 as 100% of shares in Russian entity – Teknos OOO - were sold.
Exit Russia completely. 24.03.2022: The record about the founder of JSC "KEMIRA EUROPE OYU" was deleted.
Seeking exit from Russian business. With the approval of the Russian authorities, Kiilto has now been able to sell all its Russian subsidiaries. After a transition period, Kiilto brands will no longer be sold in the Russian market.
Aspo Group’s subsidiary Telko has signed a binding framework agreement according to which it will sell the share capital of its Russian subsidiary Telko LLC to Russian industrial operator GK Himik. The purchase price is approximately EUR 9.5 million. Rights to Telko's name and trademarks are not included in the sale. The completion of the transaction requires an approval of the Russian authorities. Aspo's subsidiary Telko completes the sale of its Russian operations.