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
OSTC no longer operates in Russia. OSTC ceased its business operations in Russia in March 2022 in response to the invasion into Ukraine and has been working with its professional advisors since then to fully close down the legal entity.
Paused exports to Russia. Suspension of exports to Russia (Diageo distributes its brands to 70,000 shops and 19,000 bars throughout Russia). Moscow Brewing Company (MPK) decided to supply Irish Guinness and has already imported the first batch of the drink. IPC imported a batch of Guinness Draught, which includes kegs with a capacity of 30 liters.
Stop Licensing Content to Russia
The company pauses its business in Russia. Import to Russia is suspended and all shops are closed. Shipments dropped sharply after the invasion, and very few remaining shipments are all indirect. The bulk of indirect shipments after the invasion is traded by Switzerland. Revenue decreased in 2024 vs 2023 by more than -10%.
Suspend all shipments to Russia
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.
Received revenues in Russia in 2021. Suspended business in Russia.
Received revenues in Russia in 2021-2022. In the Annual report 2022 company shows that they decided to exit Russia: https://www.coats.com/-/media/coats/investors/2023/ar2022/ar-2022-chair-statement.pdf but in reality local entity COATS LLC (tax id 7715385954) continues to operate and shareholders didn't change as of end of February 2024.
Continue doing business as usual. Significantly reduced revenue in 2023 vs 2022.
Suspend all business activity into Russia & Belarus
Aveva warns of hit from Russia sanctions. Revenue was impacted by the war in Ukraine and consequential sanctions on Russia as AVEVA has ceased new business in Russia. The Group continues to support existing non-sanctioned companies where there is no legal basis to terminate contracts. Russia is a relatively small market in the context of the Group, representing around 2% of revenue in FY22. The company statement: "We have terminated our contracts with all customers, except for a handful of subsidiaries of foreign multinationals, which do not fall within the remit of the sanctions and trade controls. AVEVA LLC is no longer active in Russia and has no employees." Significantly reduced revenue in 2023 vs 2022.
Reducing holdings and suspending future investments in Russia and Belarus.
Stopped vehicle deliveries to Russia following sanctions. Paused vehicle sales in Russia. Despite the decline in the Russian car market, demand for luxury cars has grown sharply, in particular, for Rolls-Royce and Ferrari. The leader of the premium segment was the Rolls-Royce brand - 100 cars were sold in six months, which is 56% more than a year earlier. Bentley took second place with 90 cars sold (+4%), followed by Lamborghini (72 units, -5%), Ferrari (43 units, +115%), Aston Martin (11 units, +83%) and Maserati (4 units, -75%). Despite the fact that official deliveries of luxury brands to Russia were stopped in 2022, cars continue to enter the country through parallel imports.
Following discussions with a Baltic Member who received oral guidance from the UK Government, the Baltic Exchange is of the opinion that UK persons are prohibited from broking, chartering and selling vessels to persons connected with Russia, and to do so would breach inter alia UK sanctions: Part 5 Chapter 2 Clause 29 (1) of the Russia (Sanctions) (EU Exit) Regulations 2019
Temporarily stopped work in Russia and decided to operate outside the Russian Federation but on March 8, 2022 resumed reporting from Russia. BBC halts journalists' work in Russia after Kremlin passes law threatening jail for spreading 'fake' information.
Suspended flights to and from Russia (United Kingdom suspended air space to Russian flights).
Exiting its $14 billion (20%) stake in Rosneft, the Russian state-controlled oil company. British energy giant BP reported a net profit of $8.2 billion for the first quarter, recovering from a record loss a year earlier as it ended operations in Russia after the Ukraine invasion.
Costa Coffee, the UK’s largest coffee chain, has pulled out of Russia after less than two years in the country. The company, which is owned by Whitbread, said it had made the “difficult decision” to exit the Russian market due to the “challenging economic environment”.
Suspend operations in Russia
The Bank has made no new investments in Russia since 2014. In April 2022, the EBRD’s Board of Governors decided to suspend access to the Bank’s resources by Russia in response to the invasion of Ukraine. EBRD to hit record loss in 2022 due to investments in Russia and Belarus. The European Bank for Reconstruction and Development (EBRD) EBRD.UL has sold its 5.3% stake in Moscow Exchange MOEX.MM to IT company Softline.
Decline any new instructions for state-backed Russian entities and will terminate all Russia-related instructions that facilitate the Russian military action in Ukraine. The Foreign Ministry of Russia has banned several British lawyers from Fieldfisher including the firm’s managing partner for their role in applying the mechanism of sanctions against the country.
Stop work on projects in Russia
Suspends all Warhammer sales in Russia
Boycotting Russian state-backed films for 2022 festival.
Represented several large Russian-owned or -affiliated clients. In light of Russia’s invasion of Ukraine, which they utterly condemn, the company stopped its Russia business.
Russia has not been included in the renewed composition of the Council of the International Maritime Organisation (IMO), the UN agency dealing with shipping safety issues.
Suspended wholesale and e-commerce trade in Russia. (No facilities in Russia. Revenue from Russia <0.1%)
Removing Russian made items from stores. Matching customer and employee donations to support British Red Cross (over $1.5 million).
Suspend substantive operations in Russia.
ATP fines Lawn Tennis Association for banning Russian, Belarusian players.
Stopped partnership with Aeroflot
Suspend sales to Russia
About 10% of global sales of speakers and headphones by the British company Marshall in 2024 were on the Russian market, Marvel Distribution told Kommersant. According to the distributor, about 320 thousand speakers and headphones of the brand were sold in 2024. However, the company says that more than half of them are fakes. “Before the vendor left the country, the Russian market accounted for only about 2% of all Marshall sales,” Marvel Distribution reminds. Marshall stopped shipping products to Russia in the summer of 2022.
From the company statement: "The Russian market for us was about 10% of the global market. We terminated the contract with the Russian distributor on February 24, 2022, resumed global sales in 2023 without the Russian market. Unfortunately, most Western brands of professional cosmetics remain on the Russian market."
Banned Russian and Belarusian license holders, teams, and officials from competition in the United Kingdom. Statement condemning Russian invasion of Ukraine and complicity of Belarus.
Suspended all business with Russia. Suspension affects wholesale shipments, e-commerce shipments, and all future orders.
Stop top-ups for Russian cards and block transfers to Russian institutions. A number of clients of Europe's largest digital bank Revolut have begun receiving notifications that the bank no longer accepts transfers from Russia, even through third countries such as Kazakhstan, financial adviser Natalia Smirnova reported in her blog. Violating the restrictions, as the bank itself warns, may lead to blocking or even closure of the account. Revolut has begun notifying its Russian clients, who do not have a temporary residence permit or citizenship of an EU country, about the closure of their accounts. The bank refers to the 19th package of EU sanctions against Russia, which were introduced due to the full-scale Russian invasion of Ukraine. Revolut has banned Russians from transferring money from 50 countries.
Rotork ceased deliveries to Russia at the start of March 2022. Rotork has no manufacturing presence in Russia and is suspending the activities of its sales and service operations in the country in an orderly manner, with a small number of employees being retained to manage this process.
Refused to collaborate with Russian artists
Pause activities with Russian institutions
Suspended services and technology for Russian owned businesses
Pulls out of providing components for Russian civil aircraft
Suspend all audit and rating analysis
Suspended all operations, most supplies, and all advertising
Apply extra scrutiny to any papers from Russia; opposes a academic boycott of Russian authors or Institutions
Did not respond to Architect's Journal request about status of Russian projects. But later TonyFretton explained to the AJ that the company is not doing business in Russia.
Suspended Memorandum of Understanding between Universities UK and Russian Union of Rectors
Suspends deliveries to Russia for the duration of hostilities
Suspend all exports and services
Intends to transfer ownership of our Russian businesses to local management who will operate independently in the Russian market
Suspended money transfer services in Russia due to sanctions. They had previously limited daily transfers to £200. Waived over £500K fees associated with personal transfers to Ukraine. Fintech giant Wise allowed Russia sanctions target to withdraw money, U.K. government says.
Russian entries have been banned from competing in all remaining World Curling Federation events in 2022. World Curling has extended the suspension of the national federations of Russia and Belarus from participating in international competitions until the end of the 2024-2025 season.
Suspend all Russian members and affiliates
Suspended Russian and Belarusian athletes from competing in WS sanctioned events.
Halting work on projects in Russia
Suspended money transfers to Russia and Belarus. Unknown if suspension is related to government sanctions.
Suspended projects in Russia. (Two projects. ZHA has worked in Russia for 40+ years)
Continuing to supply social selling representatives in Russia. Suspending Russian Avon exports. Continuing Russian manufacturing operations, which primarily produce cosmetics for the local market (Fragrance portfolio is currently produced in Russia). The international cosmetics concern Avon, which announced more than a year and a half ago that it would cease investing in Russia, has so far decided not to leave the country. Avon halts Russian business sale. Revenue decreased in 2024 vs 2023 by more than -20%. Natura & Co has completed the sale of Avon’s Russian assets for approximately €26.6 million. The Russian business unit of the 137-year-old cosmetics giant has been sold to Arnest Group, a Russian manufacturer of perfumes, cosmetics and home goods. The transaction was the last Avon International asset still controlled by Natura & Co and marks the completion of its corporate simplification strategy.
Wind down Russian business in 2022
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. British oil and gas company JKX Oil & Gas Group (JKX) announced that it has filed claims against the Russian Federation regarding the initiation of a lawsuit due to the loss of assets and investments.
Divest Russian operations.
Washington Post alleges that Baker Tilly is funding Putin's efforts. No further evidence is given besides the mention of the firm.
Suspending operations in Russia, including terminating relationships with all Russian customers. Statement condemning Russian invasion of Ukraine.
Sending supplies (clothing, food, etc) to Ukraine. Donating 1 million euros towards different Ukrainian relief programs. Allowing customers to make donations in their supermarket locations.
Suspended new Russian investments and then exited all equity and debt positions.
Bet365 & Parimatch Leave Russia, Condemning War in Ukraine
Fully stop all business in Russia. Terminate all contractual relations & discontinue services in Russia.
Calrec Responds to Critics Who Claim Company Supports Russian Aggression. It says it maintains stringent compliance controls and immediately took steps to cease all commercial activities in Russia and Belarus. While it is unclear as to the basis for such criticisms, the company counts Russia State TV & Radio VGTRK among its customers; the company appears to have taken down press releases regarding its business with the state broadcaster from its website.
CargoLogicAir, casualty of Russia sanctions, faces liquidation.
Exiting natural gas agreements with Russian partners, principally Gazprom.
Wind down Russian business
Launched a resources center for displaced researchers. Committed to providing resources for people affected by the crisis.
Stopped operations in Moscow. Released statements condemning the invasion.
Cryptopay has cut off payment services for token owners with links to Russia.
Halting operations for residents of Russian
Exiting from Russia by spinning off their offices there into standalone firms.
Edrington, along with Beam Suntory, has reached an agreement to sell the Maxxium Russia joint venture business to members of the local management team; all shipments to Russia remained suspended
Business as usual, discusses sale of assets " for the benefit of ... shareholders". Eurasia Mining PLC (AIM:EUA) has said it continues to work towards selling its Russian assets although, at no present, there is no guarantee that the company will enter into any binding agreements regarding the sale of these assets. Eurasia Mining has agreed to sell its Western Kytlym operations in the Urals amid concerns about their nationalization. The company has accepted proposed terms of a deal to sell its stake in Kosvinsky Kamen, a company that owns alluvial platinum group metals (PGM) and gold deposits in Western Kytlym, Russia.
Fenner Dunlop: Hull firm closing as Russia sales end over Ukraine war.
Terminates contract with Russian Grand Prix promoter. F1 Sued For $24M Refund Over Canceled Russian Grand Prix.
Suspending work for Russian state bank VEB. Ending court work for Russia's second largest bank, VTB.
Hamleys, a chain of children's goods stores based in Britain, could not cope with financial difficulties and competition with other players in the segment in the Russian market. Now the franchisee of the brand in the Russian Federation — Alexander Mamut's "Wanderkind" company — will rename the points of sale to "Vinny" and will add clothing and footwear to the assortment.
Suspending operations in Moscow.
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.
Received revenues in Russia in 2021-2023, there is no any official announcement. Significantly reduced revenue in 2023 vs 2022. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
Removing all products 100% sourced from Russia. Changing its brand named chicken Kiev from Soviet to the Ukrainian spelled Kyiv.
Harry Potter e-books are withdrawn from Russian e-libraries
Exited its franchise agreement with partner Ginza Project
London-founded global law firm Linklaters plans to wind down its operations in Russia and close its Moscow office following Russia's invasion of Ukraine. Linklaters manages 78% trainee retention after Russian escape.
Withdraw services to Russia. Lloyd's Register revokes the insurance of ships of the largest Indian carrier of Russian oil. Lloyd's Register has told India's Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, 2023.
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.
Suspending all products and services for all customers in Russia.
Received revenues in Russia in 2021-2023, there is no any official announcement. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
Removed Russian-made vodkas for sale online. Delisted Russian Standard from ordered stock, however may have been selling remaining inventory in stores.
Suspending operations in Russia: Closing Moscow office. Terminating relationships with clients connected to Russian government. If unable to terminate any of those relationships, all proceeds from profits will be donated to appropriate humanitarian and charitable causes. (Over 50 lawyers in Moscow office and history of working with clients currently sanctioned)
Called off a March 4 launch of 36 satellites on one of Russia's Soyuz rockets due to Russian demands that none of the satellites would not be used for military purposes and the UK had to sell their stake in OneWeb. OneWeb has since partnered with SpaceX for future launches.
The Group no longer has ongoing operations in Russia.