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
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.
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%.
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.