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
Polymetal plans to sell russian assets to avert sanctions risk. The company confirmed it is considering moving its parent company’s domicile and primary listing, currently in Jersey and London respectively, to “Russia-friendly” Kazakhstan. "In light of recent developments, and in the interests of preserving shareholder value, the board and the special committee have decided to consider all possible options available for divestment of JSC Polymetal and its subsidiaries," Polymetal International said in a statement. Precious metals producer Polymetal International has agreed to sell its Russian assets to a Siberian gold miner for about $3.7 billion.
Freedom Holding Corp. (Nasdaq: FRHC) on October 19, 2022 announced that it has entered into an agreement to sell its Russian subsidiary, Investment Company Freedom Finance LLC (“Freedom RU”), together with Freedom RU’s subsidiary FFIN Bank LLC (such companies together the “Russian Subsidiaries”). The transaction is subject to the approval of the Central Bank of the Russian Federation and is expected to close in the coming months.
Halyk Bank of Kazakhstan sold its Russian subsidiary - Moskommertsbank. Such banks as Halyk Savings Bank of Kazakhstan JSC, First Heartland Jusan Bank JSC and Kaspi.kz JSC in Kazakhstan and Ameriabank CJSC from Armenia actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this.