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
Suspend operations outside of staple food products. Foreign owners of the company Chr. Hansen has decided to stop supplying Russia, its Russian division said in a letter to customers. Operations will cease until the end of 2024, it said. “Together with our clients, we will organize, as far as possible, a smooth and comfortable transition period,” the letter says.
Stop goods and money flows to Russia
One single project was terminated. Since the beginning of the full scale invasion, Evonik only stopped new business development in russia and of course applies to EU sanctions. Significantly reduced revenue in 2023 vs 2022.
Sales in Russia and Belarus are well below 1% of the total company sales and we are suspending operations in these regions.
Hyousung sponsored a market forum 2022 in Moscow Palace. Significantly reduced revenue in 2023 vs 2022.
Continued doing business in Russia, but revenue dropped in 2022 vs 2021.
Received revenues in Russia in 2021-2022, there is no any official announcement. Significantly reduced revenue in 2023 vs 2022.
Suspends shipment of products and techologies to Russia.
Suspending business operations in Russia and Belarus. (Innovation center in Moscow)
Stopped exporting its products to Russia or Belarus. Poland left the Russian businessman Kantor shares in Grupa Azoty. Russian fertiliser maker Acron said on Thursday, July 13, 2023 that it will challenge Poland's decision to take control of its shares in Polish chemicals firm Grupa Azoty.
Pause activities with Russian institutions
Received revenues in Russia in 2022. Russian President Vladimir Putin has authorized the sale of the Finndisp chemical enterprise, owned by Dow Europe Holding B.V. The company is registered in the Netherlands and owned by the American Dow Inc. 01.2024: Partial exit, one of the 4 companies sold. Bendenko Sergey Nikolaevich and JSC "PLASTIC" become the new founders of the organization. The entry about the founder of DOW EUROPE HOLDING B.V. was removed from the Unified State Register of Legal Entities.
BASF decided to wind down the company’s remaining business activities in Russia and Belarus by the beginning of July 2022. Exempt from this decision is business to support food production. Partial exit (had 4 companies). 07.2023: The record about the founder of CONSTRUCTION RESEARCH AND TECHNOLOGY GMBH has been deleted. The record about the founder MASTER BUILDERS SOLUTIONS DEUCHLAND GMBH has been removed. MBSS HONG KONG LIMITED becomes the new founder of the organization. MBSS HONG KONG ESTABLISHMENT LIMITED becomes the new founder of the organization. President Vladimir Putin signed an order authorizing Lakra Sintez, one of the largest manufacturers of paints and varnishes in the Russian Federation, to buy 100% of shares in BASF Vostok, a subsidiary of the German concern BASF in Russia. Significantly decreased revenue in 2023 vs 2022. 06.2024: LAKRA SINTEZ LLC becomes the new founder of the organization LLC "BASF Vostok". The entry about the founder of BASF COATINGS GMBH has been removed from the Unified State Register of Legal Entities.
Still operating in Russia. Armen Sargsyan's S8 Capital wants to acquire the Russian business of American Huntsman. This company owns a chemical production facility in Obninsk. Huntsman hoped to exit assets in the Russian Federation in 2023, but did not receive all the necessary regulatory approvals.
Reducing some customer deliveries and divesting industrial assets (no details). Continuing to provide medical and safety critical products. Suspending sanctioned projects and planning for new projects in Russia. Statement condemning the Russian invasion of Ukraine. (Five offices in Russia; one in Belarus. Ammonia production factory joint venture with JSC KuibyshevAzot. One of the partners in a Novatek contract for the Arctic LNG 2 export project). Despite publicly announcing the suspension of any new projects in Russia after the invasion of Ukraine in February 2022, Linde diligently fulfilled its contracts for the "Arctic LNG 2." In particular, Linde shipped at least three batches of equipment to Russia, including one registered with the Russian customs on June 1, 2022. A court in Russia confiscated the assets of the German company Linde GmbH, which refused to build a gas processing complex for Gazprom in Ust-Luga and supply high-tech equipment due to EU sanctions against Russia. 04.2024: UNITED RESOURCES PTO LLC becomes the new founder of the organization. The entry about the founders EISENVERK WEILBACH GMBH and LINDE MATERIAL HANDLING GMBH was removed from the Unified State Register of Legal Entities. 8 more legal entities left.
Suspended operations and new investment in Russia, suspended dividend payments from Rusvinyl (an independent 50:50 joint venture in Russia). Ayear after Russia’s invasion of Ukraine, Solvay has inked a deal to sell its 50% interest in the RusVinyl polyvinyl chloride joint venture to its partner for $450 million.
Received revenues in Russia in 2021, there is no any official announcement. BDO announced about ceasing to hold office as auditor of JKX Oil & Gas Limited as "The Company’s significant operations relate to producing oil and gas fields in Ukraine and Russia undertaken through subsidiaries in those countries." Disposing of all its Russian assets. Russia declares UK player ‘extremists’ and confiscates gas assets.
Received revenues in Russia in 2021. The company is actively engaged in helping the affected Ukrainians, and has already allocated more than 50 million hryvnias to finance charitable and humanitarian projects.
Withdraw from Russia completely
Received revenues in Russia in 2021 which dropped x3 times in 2022. The management of the ASK Chemicals Group has decided that all companies of the Group are withdrawing from business with Russia and Belarus.
On August 11, 2023, the MAKROchem Group closed its representative office in Russia. The Management Board of the MAKROchem Group has decided to sell all shares in the subsidiary in Russia by the end of 2023. Preparations are currently underway to conclude an appropriate agreement, and MAKROchem will inform about the final sale of shares in a special announcement.
Ceased business activity in Russia.
Stopped investments and contracts in Russia. Banned shipment of nonessential products to Russia. Employees who house Ukrainian refugees will be given a stipend.
Ongoing operations. Ceased to receive income in Russia in 2023.
End all business with state-controlled entities
Sæplast does not have operations in Russia.