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
Maintaining operation of joint venture with the largest Russian manufacturer (Ilim Group) of pulp and paper. Exploring options including potential sale of the 50% stake. International Paper Company announced that it entered into an agreement to sell its 50% interest in Ilim SA to its joint venture partners for $484M. The company noted that the sale is subject to regulatory approvals in Russia. International Paper sells Russian JV stake to local shareholders -Ilim Group.
Announced that it has completed the sale of its beverage packaging business in Russia to Arnest Group for $530 million. The purchaser, Arnest Group, has acquired all of Ball Corporation's Russian-based business.
Amcor to scale down activities in Russia amid Ukraine invasion and to sell factories in Russia. Amcor announced it completed the sale of its three factories in Russia to HS Investments, a Russian-based investor, after receiving all necessary regulatory approvals and cash proceeds, including receipt of closing cash balances.
Divested 3 corrugated packaging plants in Russia; 02.06.2022: Full name changed from LIMITED LIABILITY COMPANY "STORA ENSO PAKADZHING BB" to LIMITED LIABILITY COMPANY "NOVO PAKADZHING BB" STORA ENSO PACKAGING". 20.05.2022: LLC "NOVOPAK" becomes the new founder of the organization. The record about the founders of JSC "STORA ENSO PAKAJING" has been deleted. 06.07.2022: SETNOVO GROUP LLC becomes the new founder of the organization. The record about the founder JSC "STORA ENSO OYUY" was deleted.
Mayr-Melnhof Group announced the sale of the Russian enterprises it owns for the production of cardboard packaging - "MM Poligrafofromlennya Packaging" and "MM Poligrafofromlennya Rotogravyur".
Global manufacturer of paints and varnishes for packaging Flint Group sold its Russian division Flint Group Vostok LLC to Lakra Sintez, according to the Unified State Register of Legal Entities. The corresponding changes to the Unified State Register of Legal Entities were made in August. Previously, Flint Group Vostok belonged to the German Flint Group Packaging Inks Germany GmbH and the Finnish ANI Holdings Oy Ab. Flint Group and Lakra Sintez did not provide comments.
Initially temporarily suspended operations and sales in Russia. UPM has sold all its business operations in Russia to Gungnir Wooden Products Trading. In January 2023, it was reported that "UPM sold its assets in Russia to JSC "Astranaut Rus Holding Oyj", a structure that is part of the holding." (intragroup sale). 27.02.2025-28.02.2025: JSC CRAFTCAPITAL becomes the new founder of the organizations LLC "UPM-Kymmene" and LLC "UPM-Kymmene Chudovo". The entry about the founder GUNGNIR WOODEN PRODUCTS TRADING CO. L.L.C. has been removed from the Unified State Register of Legal Entities.