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
Exit Completed28.06.2022: Nokian Tyres initiated ‘controlled exit’ from Russia. Nokian Tyres aims for Q3 decision on new plant to replace Russia production. Nokian Tyres plan to open a new factory in Romania following Russian exit. 16.03.2023: Nokian Tyres closed the sale of Russian operations and received EUR285m from PJSC Tatneft. The Government Commission for Control over the Implementation of Foreign Investments approved the purchase by Tatneft of the enterprises of the Finnish tire manufacturer Nokian Tires in Russia. The signing of the deal was announced on October 28, 2022. 16.03.2023: Nokian Tyres closed the sale of Russian operations and received EUR285m from PJSC Tatneft.
Left Russia. 12.04.2022: The full name was changed from LLC "FAZER" to LLC "KHLEBNY DOM". 19.05.2022: Kalyavin Vladimir Vladimirovich is no longer the CEO of the organization, Kozlov Dmitry Vladimirovich becomes the new CEO of the organization
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.
The brand name was sold to Russian investors and the current operations have nothing to do with the Finnish company.
Suspending business operations in Russia. Statement condemning Russia's invasion of Ukraine. Previously had suspended exports from Finland to Russia and Belarus, as well as imports of ingredients and packaging from Russia (operations consisted of a processed cheese factory, contract manufacturing partners, and sales offices). Sold business and Viola brand to Velcom.
Metso Outotec ends wind-down in Russia.
LLC "DM CAPITAL" and JSC "VALAN MANAGEMENT" become new founders of the organization. The record about the founder CLOSED JOINT-STOCK COMPANY WITH LIMITED LIABILITY "REIMA DANMARK APS" has been removed. The record about the founder COMPANY WITH LIMITED LIABILITY "REIMA EUROPE Oy" was deleted. Detsky Mir, which bought out the Russian business of the Finnish Reima, decided to develop a new Lassie children's clothing chain on this basis.
Left Russia. 17.05.2022: Full name changed from PAULIG RUS LLC to MILFOODS LLC. 08.06.2022: Van Heijs Dimitri is no longer the CEO of the organization. Soi Vikas becomes the new CEO of the organization
YIT withdraws from all operations in Russia by completing the sale of the businesses.
The share purchase agreement with local management is subject to approval by the relevant regulatory authorities in Russia and is expected to close during the fourth quarter of 2022. The value of the planned transaction is not disclosed. Following the closing of the deal, the business will operate independently under a different brand. Data from the registry: The record about the founder OPEN JOINT-STOCK COMPANY WITH LIMITED LIABILITY "KONE OYU" has been deleted. The company was renamed to JSC "LIFTCONNECT". Russian assets of the Finnish elevator manufacturer Kone transferred to S8 Capital.
Suspended ESL Shipping operations in Russia. Leipurin operations were reduced. Statement condemning Russia. Donated 50,000 euros to the Finnish Red Cross Disaster Relief Fund (Telko exports to Russia). 05.2023: Aganisyan Artur Anatolyevich is no longer the head of the organization. Gusev Andrey Alexandrovich becomes the new head of the organization. 10.05.2023: JSC "GROUP OF COMPANIES "KHIMIK" becomes the new founder of the organization. The record about the founder of JSC "TELKO" has been deleted. The record about the founder of JSC "TROILI OY" has been deleted.
Exit business in Russia, LLC was sold to a local legal entity.
Ponsse divests its subsidiary in Russia. Ponsse Plc has completed the sale of all shares in Ponsse LLC, its subsidiary that provided PONSSE services in Russia and Belarus. After the conditions of the transaction were met, Ponsse's business operations in Russia transferred to LLC Bison, a Russian company, and the trade received the approval of the local authorities.
Withdraw completely from the Russian market, the legal entity (JSC "FISKARS BRANDS RUS") is liquidated, in "PLANTYK" LLC, the record about the founder of FISKARS FINLAND OYU AB was deleted
29.06.2022: The full name was changed from "SOKOTEL" LIMITED LIABILITY COMPANY to "VAN HOTELS" LIMITED LIABILITY COMPANY. 11.07.2022: Petra Yukhany Schaaf is no longer the general director of the organization, Kadina Nataliya Aleksandrovna becomes the new general director of the organization
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.
Received revenues in Russia in 2021. Uponor Corporation has decided to suspend all exports and imports to and from Russia until further notice due to the ongoing invasion of Ukraine and donates to UNICEF and the Red Cross. Uponor has a manufacturing facility and a sales office in Russia, employing around 90 people. On March 1, 2023 Uponor completed Russian market exit in accordance with local government authority requirements. Uponor has divested its business in Russia to local management which provides a sustainable solution for employees and customers.
Concluded total exit from Russia. 25.04.2022: Natalya Lvovna Svetushkova becomes the new founder of the organization, Safronov Konstantin Andreevich becomes the new founder of the organization. The record about the founder JOINT STOCK COMPANY "TIETO GLOBAL" has been deleted. 29.04.2022: Full name changed from LLC "TIETO RUS" to LLC "FORIGHT"
Exit Russia completely. 24.03.2022: The record about the founder of JSC "KEMIRA EUROPE OYU" was deleted.
Local company - "VR TRANSPOINT" LLC, tax id 4704089073 was renamed at the end of 2022 after the sale to Avind International in 2021. Offiicially VR Transpoint promised to suspend the traffic of freight wagons from Russia as of 12 noon on Sunday 27 March 2022 but then on March 30, according to the clarification received from the UK authorities, the sanctions "were in question did not apply to VR Group's contracts. VR Transpoint's eastern freight service will restart on Wednesday, March 30". On 6 April, the Board of Directors of VR Group made a decision to stop freight traffic between Russia and Finland and, on this basis, the company has prepared a plan to shut down traffic, in consultation with customers and taking into account the security of supply. The termination of contracts under the plan has been initiated and the traffic will cease completely by the end of the year at the latest.
Finnish food manufacturer Raisio sold its subsidiary in Russia to the Russian company Copacker Agro. The right to the Nordic brand will be sold to the Estonian Nordgate Trading Oü. 24.05.2022: The full name was changed from RICE NEWTRESS LLC to NORDIC NEWTRESS LLC. 15.06.2022: Dunaevskaya Svetlana Yulievna is no longer the CEO of the organization, Kichigin Andrey Borisovich becomes the new CEO of the organization
Exited from Russia. 20.05.2022: Full name changed from LIMITED LIABILITY COMPANY "AKKAUNTOR RUSSIA" to LIMITED LIABILITY COMPANY "KONSU"
Selling a company in Russia but at the same time, they left the full distribution of goods and the official website with contacts of representatives in Russia. 10.2023: IEK HOLDING LLC becomes the new founder of the organization. The entry about the founders of JSC "ENSTO BUILDING SYSTEMS OY" and JSC "ENSTO BUILDING SYSTEMS FINLAND OY" has been removed from the Unified State Register of Legal Entities.
Harvia Plc has signed an agreement to sell its 80.0% shareholding of EOS Russia to Mr. Vasilij Sosenkov. Harvia closes divestment of its ownership in EOS Group’s Russian operations.
Finland's Boreo sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni (local management and Russian shareholder).
Caverion has exited its Russian operations and has no operations in Ukraine.
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.
Koskinen manufactures and markets wood products, 7/07 has sold its sawing operations located in Russia to Cherepovetsles, 8/03 discontinue its operations in Russia
Stopped processing payments to and from Russia & Belarus. JSC "Nordea Bank" was liquidated on 21.04.2022.
Selling off all businesses in Russia. S Group sells St. Petersburg hotels to two Russian investors and IT entrepreneurs, Aleksandr Yermakov and Yuri Shumakov.
SATO Corporation has completed its divestment of Russian housing business 14 April 2023. SATO has operated in St. Petersburg since year 2007 and had 522 rental apartments.
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.
11.07.2022: Nortsev Konstantin Gennadievich becomes the new founder of the organization. The record about the founder of JSC VYARTSILYA TECHNOLOGY was deleted from the register