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
Continues to build Vladivostok highway in March 2022. The state-owned Chinese Railway Construction Corporation (CRCC) is ready to ensure the implementation of railway and automobile construction projects in the Crimean region. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
The Russian Federation and the People's Republic of China already have experience of cooperation in the IT sphere. One of the Russian developers works with the Chinese company Alibaba Group. The National Agency on Corruption Prevention (NACP) included the Chinese group of companies Alibaba Group Holding Limited, which owns the largest online commerce platform AliExpress, on the list of "international war sponsors". The reason for this decision in NAZK was called the continuation of the company's work in Russia, in particular, the provision of a platform for the sale of goods produced by the Debaltseve plant of metallurgical engineering in the DPR. The Chinese company Alibaba, which owns the AliExpress marketplace, has tightened conditions for Russian business: it has stopped accepting rubles and does not allow delivery to Russia.In 2022, Alibaba stopped investing in the Russian subsidiary of AliExpress. In 2023, the company's revenue in Russia decreased by 36%, to almost 10 billion rubles.
Blocked Russian state media channels from the platform, including RT and Sputnik, followed by suspension of operations. TikTok announced massive layoffs in the Russian office but is ‘shadow promoting’ banned Russian content to users and increased number of staff in Russia from 42 to 363 in 2022. Profit of Russian TikTok in 2022 grew tenfold in a year. Google, Meta, Tiktok's debts removed from Russian state bailiffs' database. TikTok said that it was introducing new measures to limit the spread of videos from state-affiliated media accounts, including Russian and Chinese outlets, as the company deflects criticism that it could be used as a propaganda tool in a major election year. Revenue significantly (by more than -50%) decreased in 2024 vs 2023.
Suspended issuing bank cards to Russian Banks. The largest payment system UnionPay has limited work with sanctioned Russian banks but Russian Standard Bank and some other banks' customers now have access to transfers to cards of the UnionPay payment system. The Chinese payment system UnionPay has removed from its Russian-language website information about issuing its cards in Russian banks, which have recently been sanctioned by the United States and Great Britain. VTB CEO announces discussion on returning UnionPay to Russia. Revenue decreased in 2024 vs 2023 by more than -20%.
The largest logistics company in China has stopped shipments to Russia. Revenue significantly (by more than -50%) decreased in 2024 vs 2023.
Froze lending to Russia and Belarus.
Pressed the pause button on serious collaboration
The Chinese bank Chouzhou Commercial Bank informed clients about the suspension of transactions with Russia.
Commercial Aircraft Corporation of China will continue its program to create wide-body aircraft without Russia. This was confirmed by an official representative. In 2022, after the start of the war in Ukraine and the introduction of Western sanctions against the Russian aviation industry, China decided to abandon all Russian developments in the CR929 and replace them with Western ones.
New transactions in Russia on hold. The New Development Bank, the multilateral bank set up by the BRICS states, is trying to think about ways it can fulfil its obligations to founding member Russia after it had to stop funding projects there to comply with sanctions, an executive said. The New Development Bank (NDB), created by the BRICS countries to finance investment projects and which issued $30 billion in loans over 7 years, will not invest in Russia.
Company Statement "Following the outbreak of war between Russia and Ukraine, we immediately ceased all operations and business in Russia. We comply with all US and international export control and sanctions laws. We do not sell to any individual or entity in Russia, Belarus, Cuba, Iran, North Korea, Syria or Crimea, nor do we sell to military manufacturers anywhere.We require our distributors and resellers to adhere to the same restrictions.Furthermore, Quectel's approach to compliance is reflected in strict policies and technical measures that subject to review - goes beyond industry best practices and those of other module suppliers.We no longer have employees in Russia and we have terminated all partnerships with Russian buyers.In addition, we have taken the unique step of technically shutting down our products from functioning in Russia. such an event was unmatched by our competitors."
Shandong Port Group has banned tankers under U.S. sanctions from entering its ports in the eastern Chinese province, home to many independent refineries that are the biggest importers of oil from countries under U.S. embargo. The province imported about 1.74 million barrels per day (bpd) of oil from Iran, Russia and Venezuela last year, accounting for about 17 percent of China's imports.
Two major shipping lines have ceased operations in Russia. These are UAE-registered CStar Line and Chinese STF Shipping, which were alternately among the leaders in sea container shipping to Russian ports in 2023-2024. Login NMP, the Russian agent for CStar Line and STF Shipping, stopped accepting orders for cargo shipments in mid-October 2025, even for scheduled sailings.
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".
OOCL Logistics, which manages a fleet of 70 container ships, including two icebreakers, has stopped shipping dresses, skirts, trousers, shoes and other clothes already paid for from its warehouses in Shanghai and Shenzhen to Vladivostok. The company cites sanctions as the reason for the refusal. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
ZTE has reduced the scale of its business in Russia due to sanctions, but it is not completely leaving yet. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
Initially promised to terminate all deliveries to Russia, everything that will not be sold by March 24 and will remain in Russian warehouses, Dahua will take it back. But the company continued to work on the Russian market. The main difficulties in the formation of a profitable pricing policy in 2022 were associated with the volatility of the ruble. "Dahua Russia" is the main distributor of products in the Russian Federation and works in the B2B segment. As a result, the main partners of Dahua Russia, distribution networks and flagship stores adopted a wait-and-see policy and suspended the purchase of goods. Included in the list of international war sponsors by NACP. Significantly reduced revenue in 2023 vs 2022. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
All CUAV products shall not be sold to Ukraine, Russia and other countries where wars are taking place. They urge not to integrate CUAV products into UAVs, directly or indirectly sell to Russia, Ukraine.
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.
Exits Russia till the end of June 2022. All Watsons stores in Russia are closed as early as the summer of 2022 (the closing process has been ongoing since the first days of Russia's full-scale invasion of Ukraine); all employees are dismissed, except for two for reporting, other administrative work, since closing a legal entity takes more time than a store; further liquidation of the legal entity in Russia is planned; the page https://www.instagram.com/watsonsrussia/ is closed and does not work; the Russian website also no longer exists. That is, in fact, commercial activity will be suspended in the summer of 2022 with the subsequent liquidation of legal entities.