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
PeWeTe sold and transferred its participatory interests held directly and indirectly in its Russian LLC which was sold to a local legal entity, which is held by a group of Russian top managers of the Petro Welt Group
Received revenues in Russia in 2021-2022. EVN is currently in advanced negotiations with a potential buyer for the two combined heat and power plants in Moscow, which represent the last remaining activities of the EVN Group in Russia. 1 of 4 entities was sold: 11.2023: The entry about the founder of the STATE UNITARY ENTERPRISE OF MOSCOW "EKOTEKHPROM" was removed from the Unified State Register of Legal Entities. JSC "EKOTEKHPROM" becomes the new founder of the organization. 08.11.2024: Georgy Olegovich Savchenko becomes the new founder of the organization LLC EFN ECO SERVICE. The entry about the founder EFN UMWELT BETAILIGUNGS UND SERVICE GMBH has been removed from the Unified State Register of Legal Entities.
No new Russian investments; doing strategic review of current Russian gas investments, significantly reduced its exposure to risks related to importing Russian gas later this year. OMV writes off assets in Russia for 2.5 billion euros. Austrian energy group OMV will continue to buy most of its gas from Russia this winter, its chief executive has said, even though the company has secured back-up contracts to fully cover its import needs from other sources. Vladimir Putin signed decrees according to which the shares of two foreign companies, namely the German Wintershall DEA and the Austrian OMV in joint ventures (JV) with Gazprom, will be forcibly sold to Russian owners. Russia's Gazprom has cut off gas supplies to Austrian energy company OMV, hours after Vienna said Russia had warned it would cut off flows. Austria said Moscow had informed it that gas would be cut off from Saturday, November 16, 2024 following an arbitration ruling in favor of OMV, Austria's largest energy supplier, over Gazprom's failure to meet gas supply obligations to its German unit. Gas continues to flow to Austria via the same route that it usually uses for deliveries from Russia – via Slovakia, Reuters reports, citing Eustream data. Austrian company OMV usually received 27 million cubic meters per day from Gazprom. On Saturday, November 16, 2024 deliveries stopped completely, but on Sunday, November 17, 2024 22.6 million cubic meters returned (down 17%), with the application for Monday at 22.3 million cubic meters per day and for Tuesday at around 23.6 million cubic meters. Traders and analysts said that this could be gas from Russia, delivered via the Turkish Stream pipeline or via Ukraine, where underground gas storage facilities are already full. Austrian company OMV seized €230 million worth of gas from Russia's Gazprom in October following an arbitration decision. This was the first time an EU customer failed to pay the monopolist for fuel.