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
Refuses from new business transactions with Russia, the Company said it would only fulfill current contracts that are not subject to sanctions. Gunvor handles no Russian crude and only very small quantities of products. The heads of some of the world's leading energy traders have said they are ready to return to Russia for business if sanctions are fully lifted, although some have expressed concerns about the prospect in the near future. "If the sanctions are eased in a way that we can return to them, why not? That's our job," Gunvor Group CEO Torbjorn Turnqvist said in an interview.