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
Block bookings and block accepting guests in Russia. A Russian court has fined American company Airbnb 6 million rubles ($65,400) for repeatedly failing to localize data in accordance with Russian law.
Suspended future investments, development activity, and new hotel openings. Ceased operations in Russia except some franchise agreements. Since the spring of 2022, Hyatt, InterContinental, Marriott, CPI Hotels, Belmond, Sokos, Four Seasons, BWH and Wyndham have left the Russian market.
Since the spring of 2022, Hyatt, InterContinental, Marriott, CPI Hotels, Belmond, Sokos, Four Seasons, BWH and Wyndham have left the Russian market.
Continue facilities management and other services with contracted multinational clients in Russia. Exiting Moscow office and terminating some affiliate relationships. (Russian operations contribute <1% of CBRE revenue)
Since the spring of 2022, Hyatt, InterContinental, Marriott, CPI Hotels, Belmond, Sokos, Four Seasons, BWH and Wyndham have left the Russian market.
Suspend substantive operations in Russia.
Semrén & Månsson Arkitekter cut all collaboration with the Russian branch early March 2022 (but website https://semren-mansson.ru/ still exist and active). The board of Semrén & Månsson has since June 2022 decided to divest the Russian branch, aiming to minimize the impact on the employees and ensure an orderly and responsible process in accordance with regulatory and legal obligations. Furthermore, Semrén & Månsson donated 100,000SEK to support the UNHCR’s humanitarian efforts in Ukraine and will, of course, always follow the political directives set by the Swedish government.
Warimpex Finanz- und Beteiligungs has sold its last remaining project in Russia, the Airportcity St. Petersburg, and is therefore no longer active in the Russian market.
Suspend bookings in Russia. In the spring of 2022, the Dutch Booking.com stopped working in Russia due to “difficult business management.”
Close office in Russia; transfer to local partner
Received revenues in Russia in 2021-2023, there is no any official announcement. Revenue significantly (by more than -70%) decreased in 2024 vs 2023, to zero.
Removed Russian properties from the website
GC Rieber Shipping exiting its business in Russia
We are now in the process of ceasing all operations in Russia consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there.
Operations in Russia closed down.
Logicor, which manages warehouse complexes in Europe, sold the Valecorp complex in St. Petersburg with an area of more than 40,000 square meters. sq. m of the Central Properties company. The complex was the only Logicor object in Russia.
Suspended a franchise agreement in Russia (no ownership or shareholdings in Russia), end partnerships in Russia.
Business as usual. The Chinese Vanke Group, which received the rights to the restoration of the Imperial Educational House and the complex of the former buildings of the Academy of Missile Forces near the Kremlin, began to look for co-investors due to the increase in the project budget. The Chinese Vanke Group has decided to finally get rid of its only project in Russia - the restoration of the former Imperial Orphanage near Zaryadye Park in the center of Moscow. The group agreed to sell the asset, estimated at 30 billion rubles, to the Kyiv Ploshchad Group of Companies, founded by God Nisanov and Zarakh Iliev. Market participants explain the Chinese group's withdrawal from the project by the decline in its attractiveness over two years of geopolitical crisis. In addition, Vanke had difficulties in its home market.