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
Shipments and sales to Russia discontinued
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue significantly (by more than -50%) decreased in 2024 vs 2023.
Freeze investments and stop purchasing crude oil from Rosneft from May 15. Following a review of options in respect of its 10 percent non-operational, passive shareholding in Vostok Oil, Trafigura has now exited its investment; maintain shareholding in Russia. Suspend all business activities indefinitely & exit Russia, but sells Russian oil. Trafigura terminated its long-term offtake contracts for crude oil and petroleum products with state-owned Russian producers in advance of European sanction…. "Since then, we have not purchased Russian origin crude oil. We continue to comply with applicable sanctions". Revenue significantly (by more than -50%) decreased in 2024 vs 2023.
Al Bahrain Jewellers LLC, another souk-based dealer, took over $50 million of gold from Russia - investigation of Bloomberg. Al Bahrain Jewellers LLC in its statement wish to unequivocally affirm its commitment to strict adherence to international standards and principles. In line with this commitment, Al Bahrain Jewellers has had no business dealings with any Russian Entities, both in the past and at present. Additionally, the company currently do not accept any materials that originate from Russia, whether directly or indirectly. This policy decision was proactively implemented well before the publication of the news article, reflecting the dedication to responsible conduct within the global marketplace. All company's actions and business decisions are underpinned by a steadfast commitment to respecting and following the international sanctions, rules, and regulations that govern the industry.
Halted iron ore supplies to Russia's MMK MAGN.MM from its giant Kazakh operation due to Western sanctions against the Russian company
Suspended Russian contracts, subsidiary ZANAM Vostok in Russia
Stopped sales and deliveries to Russia. The Russian state concern Rosatom has filed a lawsuit in the Moscow Arbitration Court against the Finnish Fortum and Outokumpu Corporation for 227.8 billion rubles (2.45 billion euros), demanding compensation for damages due to the termination of the contract for the construction of the Hanhikivi-1 nuclear power plant.
Red Metal AG, a Swiss trading company that had been a significant buyer of Russian copper, has now wound down that business, according to Managing Director Milan Popovic. “Red Metal AG has completely terminated all contracts with Russian suppliers and the last delivery we received was on September 6, 2023,” he said, adding that the company would now focus on other countries including Serbia, Uzbekistan, Mongolia, China and Kazakhstan.
Continued relations with Russia but a positive pattern is observed: reduction of exports and most of the remaining exports are indirect. Stated in the Annual Report 2023 that reduced all operations and restructured the subsidiary in the Russian Federation.
The NACP listed one of the world's largest diamond producers and exporting companies, Shree Ramkrishna Exports (SRK), on its list of international war sponsors. The Indian company continued to cooperate with the aggressor, purchasing diamonds in Russia, despite the sanctions imposed against the Russian Federation in this sphere. In 2023, the company tripled the purchase of diamonds in the Russian Federation compared to 2021. 13.10.2023: NACP excludes India’s SRK from the list of international war sponsors.
Workers of Lunsin LLC, a Tuvan subsidiary of the Chinese Zijin Mining Group, accused the company of discrimination in wages. The company is developing the Kyzyl-Tashtyg polymetallic deposit. The Biden administration has added 37 more Chinese companies to a "blacklist" banning imports of their products into the United States over their alleged use of forced labor in the Xinjiang region. The list includes mining giant Zijin Mining Group, according to a statement from the U.S. Department of Homeland Security. China's largest mining company wants to leave Russia because of sanctions. We are talking about the Kyzyl-Tashtyg Mining and Processing Plant OOO "Lunxing", owned by the Chinese Zijin Mining Group, which is one of the largest companies in China. From June 1, the enterprise will be downtime due to the fault of the employer. The decision was explained by "financial difficulties" due to a significant expansion of sanctions against the Russian financial sector and the subsequent refusal of Chinese banks to work with Russian financial institutions, which "led to a delay in payment for the products sold by OOO "Lunxing".
Tigers Realm Coal Limited engages in the identification, exploration, development, mining, and sale of coal deposits in Russia and Asia. Tigers Realm Coal said it will sell its assets, including two Siberian coking coal mines and an export terminal, for $49 million to APM-Invest, owned by Russian businessman Mark Buzuk. Tigers Realm Coal nears completion of Russian subsidiary sale amid legislative delays. Tigers Realm Coal Limited has been navigating the sale of its Russian operations to Limited Liability Company APM-Invest, with the process being delayed due to new Russian legislation affecting company exits. The company is also dealing with compliance issues related to the Australian Sanctions Regime, which has impacted its ability to provide financial documents on time. The completion of the sale is pending presidential approval, which once obtained, will allow the company to proceed with its financial filings. Revenue decreased in 2024 vs 2023 by more than -10%.
Wind down Russian business in 2022
Promised to stop new business and investments. Also, promised to close the plant and tried to change owners of the smallest TERRA INFRASTRUCTURE in 2022. In reality, local companies has not changed their owners and the biggest ones were renamed. Revenue slightly decreased in 2022 vs 2021. A big jump of the trade in summer of 2022, mostly attributed to the Murmansk Seaport project of the new material handling system for coal. Partial exit, 1 out of 3 local legal entities changed owner. 02.2024: OJSC "KRASNOYARSK NON-FERROUS METALS PLANT NAMED AFTER V.N. GULIDOV" and JSC "AKXION-RARE AND PRECIOUS METALS" become the new founder of the organization THYSSENKRUPP INDUSTRIAL SOLUTIONS (RUS) (abbreviated as LLC "TKIS (RUS)"). The entry about the founder of THYSSENKRUPP INDUSTRIAL SOLUTIONS AG has been removed from the Unified State Register of Legal Entities. Revenue decreased in 2024 vs 2023 by more than -20%.
The company made a statement about leaving the Russian market. Revenue significantly (by -95%) decreased in 2024 vs 2023.
Still operating in Russia. The Russian assets of Silgan Holdings - Silgan Metal Packaging Stupino LLC (Moscow Region) and Silgan Metal Packaging Enem LLC (Adygea) - were transferred to temporary state management on July 11, 2024 by presidential decree. Silgan Holdings continues to own the Russian Vonorus LLC (Moscow Region, Stupino): 100% of the shares in the company belong to Silgan Metal Packaging Mitterdorf GmbH (Austria). The company's main activity is the purchase and sale of its own real estate. According to the Unified State Register of Legal Entities, 100% of Silgan Metal Packaging Enem LLC belongs to Silgan Metal Packaging Mitterdorf GmbH (Austria), 100% of Silgan Metal Packaging Stupino LLC belongs to Silgan Holdings Austria GmbH (Austria).
Suspended selling of all products to Russia and purchase of all raw material from Russia due to the invasion of Ukraine.
Monitor situation and review structures of Russian business partners. Aurubis AG, Europe's largest copper smelter and producer, no longer buys the red metal from Russia after it let supply contracts lapse.
The Moscow representative office is currently located in the Krymsky Most business center. The world's largest mining company BHP Group said it does not sell into Russia, nor does it have any investments or commercial arrangements in Russia or with Russian organisations.
The company continued to work in Russia and has a legal entity. Although the revenue in 2022 has decreased. Ceased to receive income in Russia in 2023.
Terminated all commercial relationships with Russia. Rusal files lawsuit against Australian Rio Tinto in Russia for 105 billion rubles.
The Angolan government demanded that the Russian group of Alrosa (more than 60% of the shares belong to the Russian Federation) withdraw from the diamond mining project at the Catoca mine due to Western sanctions. The development of the deposit is carried out by Sociedade Mineira de Catoca, 41% of which is owned by the Angolan national company Endiama. Alrosa owns a similar stake. Another 18% of the shares are held by the international holding LL International Holding B.V.
Replaced all Russian raw materials for operations; no presence in Russia