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
No statements about suspending or closing business. Italian bank Intesa Sanpaolo's (ISP.MI) Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia's banking sector gave foreign lenders an unlikely boost. Intesa closer to gaining Moscow's OK for Russia asset transfer. The largest Italian bank, Intesa Sanpaolo, has decided to close its representative office in Moscow, although it was unable to obtain permission to completely withdraw from Russia due to restrictions on the sale of assets. Banca Intesa has increased the fee for legal entities to open euro accounts tenfold.
Received revenues in Russia in 2021-2022, there is no any official announcement. Baring Vostok sold the collection agency PKB to an investor from the Russian Federation.
Suspending Russian transactions at end of March 2022. Also suspended any new financing in Russia. BNP Paribas Asset Management is set to liquidate the firm’s Europe Emerging Equity fund on 3 July, following more than a year of suspension. 06.06.2024: The legal entity BNP PARIBAS TECHNOLOGIES was liquidated. Revenue decreased in 2024 vs 2023 by more than -20%.
Winding down operations in Russia. Stopped new transactions in Russia. The German Commerzbank, which is the second largest in Germany, stopped making payments to Russia. The only exception made is for its "daughter" — the credit organization "Kommertsbank (Eurasia)". Rushimalliance filed claims for 31 billion rubles against Deutsche Bank and Commerzbank. Deutsche Bank and Commerzbank blocked Gazprom subsidiary's Russian lawsuits. A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed.
According to messages in the press, the company is winding down its business in Russia but cautiously returned to the market for Russian government and corporate bonds and buy Russian debt. Due to the unilateral decisions of American financial institutions, servicing of Gazprombank correspondent accounts in US dollars at JPMorgan Chase Bank and Bank of New York Mellon will be terminated. In this regard, we ask clients not to use Gazprombank for cross-border transfers in US dollars starting from January 27 inclusive. The Russian subsidiary bank of the American JP Morgan Chase, which announced the winding down of its operations in the country back in March 2022, became the largest foreign investment bank in Russia in terms of assets at the end of January–September 2023. The bank's assets overall grew more than fourfold over the past two years. A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington’s sanctions regime. JPMorgan Chase warns bank’s assets may be seized in Russia after $1,460,000,000 write-off. Goldman Sachs and JPMorgan in February 2025 started to offer investors ruble-linked derivatives.
Scaling down operations in Russia. Silver Wohu, Head of Marketing and Communications at SEB Estonia, said that the group is expanding its business in Russia, and the plan is to fully consolidate its business in Russia.
Winding down of business activities in Russia in response to Russia's invasion of Ukraine, including write-off and relocation-related expenses of impacted associates.
Morgan Stanley Real Estate Fund VII, which is managed by the American company Morgan Stanley, intends to sell 50% of the shopping and entertainment center "Gallery". "Gallery" is Morgan Stanley's latest asset in the real estate sector in Russia.
Suspending operations in Russia, including terminating relationships with all Russian customers. Statement condemning Russian invasion of Ukraine.
Amundi has shut its last remaining Russia equity ETF after MSCI said it would discontinue index calculation on 1 March. In a shareholder notice, Amundi said the Lyxor MSCI Russia UCITS ETF (RUS) will enter liquidation on 15 February after a portion of the global depositary receipts (GDR) in the index are set to be cancelled.
No presence and very little direct exposure in Russia. Will not engage in new business with Russian companies. Removing Europe to Ukraine transfer fees. Suspending account, card, and ATM fees for Ukrainian customers in Poland Pledge of $1.3M to Red Cross and UNHCR plus employee match donations. Warsaw previously froze the accounts of the Russian embassy: allegedly, the Polish side had suspicions that they could be used for money laundering or financing terrorism. Now Santander Bank announced the termination of cooperation with the embassy and closed the accounts.
The Arbitration Court of St. Petersburg and the Leningrad Region has seized the property, money and securities of Landesbank Baden-Wurttemberg and Bayerische Landesbank. The court made this decision as interim measures against the claim of the operator of the construction of the complex in Ust-Luga, Ruskhimalyans. The Arbitration Court of St. Petersburg and the Leningrad Region satisfied the claim of Rukhimalliance to recover about 273.1 million euros from Bayerische Landesbank. The company filed a claim against the German organization for 270.5 million euros and 2.64 million euros of interest for late payment of a bank guarantee under a contract with Linde.
Kama Capital is negotiating the purchase from the Irish investment company Bergkamp Investments, part of the Irish Bank Resolution Corporation (IBRC), of the Kutuzov Tower business center with a total area of 31.9 thousand square meters in the Fili-Davydkovo district in the west of Moscow and the Q-Park logistics complex with an area of 83.5 thousand square meters near the Kazan airport.
Suspended the purchase of all Russian securities in its active and index funds. BlackRock continues to consult with regulators, index providers and other market participants to help our funds to exit their positions in Russian securities, consistent with removal of the securities from applicable underlying indexes, whenever and wherever regulatory and market conditions allow. BlackRock will continue to manage its funds as a fiduciary, taking a disciplined, pragmatic and adaptable approach to reflecting index changes, while remaining in compliance with all sanctions.
Suspended all purchases of Russian assets (clients held $18,2billion in Russian assets in January), withdrew from Russia following the Crimea invasion
Blockchain.com will stop serving Russian citizens.
Cryptopay has cut off payment services for token owners with links to Russia.
Halting operations for residents of Russian
Deribit, a crypto exchange that provides options and futures trading services, has announced the termination of its operations in the Russian Federation. The platform will cease to serve residents of the country, as well as its residents, due to European Union sanctions against the Russian Federation.
The Flowbird company announced the termination of support for the software and hardware of parking meters in Russia.
Russians have been banned from trading on Hong Kong's first official crypto exchange HashKey Exchange. Russia was on the sanctions list of the local regulator.
Suspended trade in Russia-based companies stocks. Excluding sanctioned entity debt from its fixed income indices .
Curb its activities in Russia. Slovakia's J&T Real Estate has found a buyer for its only asset in Russia, the five-star Baltschug Kempinski Hotel opposite the Kremlin in central Moscow.
The Arbitration Court of St. Petersburg and the Leningrad Region has seized the property, money and securities of Landesbank Baden-Wurttemberg and Bayerische Landesbank. The court made this decision as interim measures against the claim of the operator of the construction of the complex in Ust-Luga, Ruskhimalyans.
The largest manufacturer of cold crypto wallets Ledger announced that they would no longer supply their products to Russia.
LocalBitcoins will stop serving Russian citizens.
Suspending all products and services for all customers in Russia.
Halting cargo bookings to and from Russia until further notice
The Russian subsidiary bank of the Natixis group, one of the largest in France, has received permission to be sold to the owner of Realist Bank, who had previously bought the subsidiary of J&T Finance Group SE and had already merged it with his Russian credit institution.
The company continued to work in Russia. It was satisfied with the robot in both countries, as well as in Ukraine and Russia. Notion exits Russia (suspends services) and will terminate client accounts in September 2024.
VTB Bank reported that it had received from its European subsidiary, the German OWH SE (formerly VTB Bank Europe), a notice of intention to deprive the bank of its ownership rights. VTB considers such actions by the German side to be aggressive and promises a symmetrical response. The US Treasury has removed the former European division of VTB Bank from anti-Russian sanctions. Ost-West Handeslbank was excluded from the sanctions list, as well as its former names - VTB Bank Europe and VTB Bank Deutschland. The reason for this decision is not specified.
Paysera halts transfers to and from Russia, closes accounts of its Russian clients and halt transfers to and from Russia.
Sell off all Russian investments
Suspends transactions with Russian banks transactions in Russian ruble suspended
Sell off all Russian investments
Intend to fully divest Russian assets "as soon as we can".
Stopped processing transactions of sanctioned Russian entities, shut crypto-mining operations in Russia
Suspended the purchase of Russian securities. State Street to pay $7.5 million to settle allegations of Russia-related sanctions violations.
Divest from all Russian investments
Suspended money transfers to Russia.
Suspended purchase of Russian securities. Reducing exposure to Russia by exiting the positions across index funds. (Exposure to Russia in Vanguard funds accounts <0.01% of client assets. Most of that exposure is in index funds)
During its general meeting of shareholders, Swiss-based investment house Vontobel said that it decided to terminate business with clients in Russia.
Ending relationship with Lukoil and subsidiaries
Kuna, WhiteBIT and CEX,io platforms introduced restrictions for Russian users - The Times Hub
Zevin Asset Management weighs in on Russia’s war in Ukraine and calls on other companies to leave Russia immediately.