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
The Russian subsidiary is operating in compliance with the international sanctions. The company is winding down corporate lending. OTP Bank Plc. does not provide financing to its subsidiary in Russia (not verified + reinvesting profit is also a financing). OTP Bank has suspended transfers in US dollars. But the bank offers to convert dollars into euros for the transfer. The National Agency for the Prevention of Corruption (NACP) added the Hungarian OTP Bank to the list of war sponsors. At the end of September 2023 NACP suspended OTP Bank from the list of international sponsors of war while negotiations are underway. OTP Bank is in communication with the national agency and the European Commission in the process of implementing the exit plan from the Russian Federation. The subsidiary bank of the Hungarian OTP in Russia has increased profits by 150 times and is expanding its business. Russian companies have begun to move en masse to the Hungarian OTP Bank from the Austrian Raiffeisenbank after the latter introduced new restrictions on currency transfers on September 2, 2024. Hungary's biggest bank, OTP Bank, boosted its business with Russia last year, helping to bolster its profits, as rival European lenders came under increasing pressure to pare back their ties with Moscow due to its war in Ukraine.
Received revenues in Russia in 2021-2024, there is no any official announcement. Increased assets from $1.8bn in 2021 to $2.4bn in 2022. Credit Europe Bank (Russia) has secured special permission from Russian President Vladimir Putin to acquire a 100% stake in Ikano Bank. Revenue increased in 2024 vs 2023 by more than +30%.
Initially ceased financing of deals involving Russian commodities. The largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times. Bank of China restricts Russian transfers of yuan to E.U., U.S. Bank of China (BoC) significantly increases its capital, assets and Net profit in Russia in 2022 vs 2021. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation. Without waiting for the expiration of its license, Bank of China, one of the largest Chinese banks, which acted as a clearing agent, that is, de facto carried out all yuan transactions, refused to work with the Moscow Exchange.
Curtail Russian access to capital markets. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation.
Received revenues in Russia in 2021, there is no any official announcement
China's Belt and Road spending in Russia drops to zero. Received revenues in Russia in 2021-2024. Revenue increased in 2024 vs 2023 by more than +30%.
Facilitating rupee trade with Russia. Canara Bank on 20.01.2023 has entered into a share sale agreement in relation to sale of equity shares held by it in Moscow-based CIBL with SBI, the bank said in a regulatory filing. State Bank of India and Bank of Baroda informed refiners they will not handle payments for oil bought above the limit.
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue increased in 2024 vs 2023 by more than +50%.
Russian companies openned accounts with the bank; decline to comment. Later, the largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. Two more structures of Chinese banks operate in Russia: the Russian China Construction Bank owned by China Construction Bank (assets of 20.5 billion rubles at the beginning of 2022), and China Agricultural Bank (11.8 billion rubles), the owner of which is Agricultural Bank of China. According to the financial indicators of China Construction Bank, its assets have tripled over the past year, to 60.6 billion rubles.
Russian companies open accounts with the bank; decline to comment. Two more structures of Chinese banks operate in Russia: the Russian China Construction Bank owned by China Construction Bank (assets of 20.5 billion rubles at the beginning of 2022), and China Agricultural Bank (11.8 billion rubles), the owner of which is Agricultural Bank of China.
Received revenues in Russia in 2021-2024, there is no any official announcement.
Korean Woori Bank operates in Russia since 2007.
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Received revenues in Russia in 2021-2022, there is no any official announcement.
Vladimir Putin issued an order allowing the American hedge fund 683 Capital Partners LP to acquire securities of Russian joint-stock companies owned by a number of foreign funds; the corresponding order was published on the portal of regulatory legal acts.
Exposing the cooperation scheme of the Kazakh company ARC Group with the Russian military for the maintenance of Russian Su-30SM aircraft equipped with French Thales and Safran avionics. Back in October 2021, ARC Group concluded its first contract with the specialized Russian company "Rosaviaspetskomplekt".
According to OFAC (Office of Foreign Assets Control), ARX offers Russian investors the opportunity to transfer Russian financial assets and open brokerage and bank accounts in the UAE. The company has been sanctioned by the United States for its dealings with individuals from Russia.
Stop underwriting new insurance & stop renewals. French insurer AXA supports the main importer of Russian gas into Europe. Despite the war in Ukraine, French giant AXA is still providing insurance cover to Belgium’s Fluxys, which imports into France and Belgium gas held by oligarchs accused of funding Russia’s war effort, according to documents obtained by Disclose and NGO Reclaim Finance.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started. The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), Bahrain’s Mumtalakat Holding Company (Mumtalakat, sovereign wealth fund of the Kingdom of Bahrain) and Binnopharm Group (а subsidiary of Sistema PJSFC, a publicly traded Russian investment company) on June 3, 2021 signed a Memorandum of Understanding (MoU) to establish a new vaccine production facility in the Kingdom of Bahrain to manufacture and distribute the Russian Sputnik V coronavirus vaccine across the MENA region.
A branch of Gazprombank, Bank GPB International, has been operating in Luxembourg for more than 10 years. GPB International is not your average European bank. There is a key link in the chain of settlements between Gazprombank and European companies purchasing Russian gas, without which transactions would not be possible. This is the Luxembourg bank GPB International, where Gazprombank opened a correspondent account for transactions in euros, whose managers remembered the Russian attack on Ukraine in 2022. After the start of the war, Luxembourg-based GPB International suffered neither from investigations by local authorities nor from sanctions and isolation of the Russian economy. On the contrary, he made record profits. According to the 2022 annual report, net profit after tax was 61.4 million euros.
In the near future, a new foreign insurer will enter the Russian market - a subsidiary company LLC Insurance Company "MIRAN" registered by Mir Business Bank (a Russian entity of the Iranian Bank Melli Iran). According to experts, the company is likely to focus on insuring the risks of foreign economic activities of companies from Russia and Iran. However, it may also be of interest to the market as a gateway to Iranian reinsurance capacities.
In January-August 2024, the volume of transactions involving Russian companies on the Belarusian Universal Commodity Exchange (BUTC) increased 4.4 times to $622 million equivalent.
The share of Russian traffic on the Bitfinex exchange grew to 22% in May 2024.
The third largest oil producer in Russia, Gazpromneft, is partnering with Swiss-based bitcoin mining firm BitRiver to build out mining operations located at oil fields according to a memorandum from the St. Petersburg International Economic Forum. Bitcoin mining company Bitriver is cooperating with Gazpromneft and is building a network of data centers and mining farms for the oil company. The desire to work with Russia is also proven by the fact that in April 2022 the US Treasury Department added Bitriver to the list of companies that support the war. The company also has a license to provide services from June 2022 to 2027.
Donation service Boosty is used to finance Russian military from Western countries, bypassing sanctions.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Crypto exchange Bybit initially didn't plan to sanction russian users despite MAS call. But later, following Binance, crypto exchanges OKX and Bybit closed operations with sanctioned Russian banks on p2p platforms. Users from Russia took first place in the number of visits to the Bybit cryptocurrency exchange in April 2024. The share of Russian traffic on the Bybit exchange reached 27% in May 2024 and 26% in April 2025.
The Russian division of Bosch has dismissed the remaining managers of sales of household appliances and is negotiating the sale of the business to the Turkish investment fund Can Holding. Can Holding plans to start the production of refrigerators, washing machines and built-in appliances in the Russian Federation under its own brands (Awox, Seikon, Telefox and Energia and others), and also provide capacity as contract production to other vendors.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started. Linked with Vladimir Putin's ex-wife Lyudmila who reportedly owns part of one of Russia's biggest microfinance companies.
Novatek owns a 50.1% stake in Yamal LNG. France’s TotalEnergies and China National Petroleum Corp each control 20%, while China’s Silk Road Fund owns 9.9%.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Coinbase joins Kraken, KuCoin and Coinberry and other crypto exchanges that said they will not block Russian customers from using their platforms. The platforms argue that blocking ordinary citizens runs contrary to their crypto-isn't-tie-to-a-government appeal.
About 30 Russian banks have already connected to the national Chinese bank transfer system CIPS (Cross-Border Interbank Payment System), which allows you to make payments in yuan.
The Russian Direct Investment Fund (RDIF) and the sovereign wealth fund Danantara Indonesia signed an agreement to create a Russian-Indonesian investment platform worth €2 billion.
The British company DB Ventures has registered the David Beckham trademark with the Russian Rospatent.
DBS Group Holdings Ltd. has beefed up its wealth management team to cater to rich Russians at a time when many global rivals are staying away from the business amid concerns over widening sanction risks.
The company EasyStaff, founded by Russians in Vilnius, has transferred over €50 million to Russia while facilitating the hiring of Russian freelancers by Western companies, LTR reports. Though EasyStaff presents itself as a global platform helping companies hire and pay foreign freelancers, in practice it serves as a bridge for EU and US businesses seeking to contract Russian workers without direct interaction with sanctioned banks.
Elliott Investment Management is in talks to buy a stake in a package of infrastructure assets, including a pipeline that carries Russian natural gas to Europe—a deal that could form a template for reviving Moscow’s once-mighty energy business by involving American investors. The U.S. hedge fund, headed by billionaire founder Paul Singer, is considering a stake in the Bulgarian extension of the TurkStream pipeline, along with access to a network of data centers, data cables and other infrastructure assets, according to people familiar with the matter.
In order to continue servicing Russian-Turkish trade, the country de facto has only one bank left - Emlak Katılım. It continues payments in lira and rubles, while many Turkish banks immediately block transactions in dollars and euros.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
Gemcorp was founded by a foundation backed by two Russian oligarchs linked to Sergei Chemezov, the powerful boss of Rostech, Russia's state-owned arms giant. He is a close friend of Putin and served in the KGB together with the Russian president. In 2022, Gemcorp announced that it had severed ties with Russia last year and closed its Moscow office. But the origins of his success show how money from businessmen now allegedly linked to the Kremlin was used to gain a foothold in Britain's financial sector.
A San Francisco venture capital firm will pay a $216 million fine to the U.S. Treasury for violating U.S. sanctions by managing investments for a Russian oligarch. Global Venture Alliance (GVA) Capital allegedly managed investments for Suleiman Kerimov, a Russian government official, from 2016 to 2023, despite knowing of his status on the blocked persons list of the Treasury’s Office of Foreign Assets Control (OFAC). GVA Capital also failed to comply with a subpoena by not producing the full amount of documentation requested by the agency for 28 months.
According to Russian customs, Hong Kong-based Hadsund International Technology supplied II-VI WaveShaper programmable optical processors from the American company Coherent to Russia. These devices, manufactured in Australia, were purchased by Scientific Instruments and Systems LLC, a member of the Scientific Equipment group of companies.
Harbin Bank, which in 2015 partnered with Sberbank of Russia to establish a platform for Sino-Russian financial cooperation, in 2022 launched a department dedicated to promoting cross-border business with Russia.
Facilitated a domestic cement maker’s yuan trade purchase of Russian coal to avoid USD. India's central bank has allowed HDFC Bank Ltd (HDBK.NS) and Canara Bank Ltd (CNBK.NS) to open a special "vostro account" for trade in rupees with Russia.
The European Union has imposed sanctions on two Chinese banks and five companies based in China as part of another round of sanctions against Russia over its invasion of Ukraine. According to a statement from the European Council, the banks targeted are Heihe Rural Commercial Bank Co. and Heilongjiang Suifenhe Rural Commercial Bank Co. According to the EU, they were listed for providing cryptocurrency services that undermined the objective of the sanctions.
The European Union has imposed sanctions on two Chinese banks and five companies based in China as part of another round of sanctions against Russia over its invasion of Ukraine. According to a statement from the European Council, the banks targeted are Heihe Rural Commercial Bank Co. and Heilongjiang Suifenhe Rural Commercial Bank Co. According to the EU, they were listed for providing cryptocurrency services that undermined the objective of the sanctions.
The Chinese payment company Helipay is negotiating with three Russian banks to organize cross-border payments between companies in the two countries.
Crypto exchange Huobi Global has announced that it will not impose restrictions on Russians. Huobi and KuCoin, both based in Seychelles, still allow traders to transact with debit cards issued by sanctioned Russian banks, including Sberbank, on their peer-to-peer platforms
US Treasury sanctions Huriya Private for 'moving Russian finance into the UAE and money laundering'.
Can no longer clear rupee rouble conversions. But approved for rupee trade with Russia.
Offices operating in Moscow, did not answer for Reuters' calls for commenting on that. The three largest banks in China have stopped accepting payments from Russian sanctioned financial organizations, Izvestia found out. We are talking about Industrial and Commercial Bank of China (ICBC), China Construction Bank and Bank of China. This decision is associated with the risks of secondary sanctions.
Hungary's government has decided to withdraw its representatives from the Russia-controlled International Investment Bank (IIB) and will quit it. The IIB, which is based in Budapest and has come under US and EU sanctions, is closing its Hungarian headquarters, leaving the EU and returning to Russia.
In a London Stock Exchange notice made today (27 October), the board said that because of "the inability to dispose of these under the current sanctions and restrictions, the company also needs the flexibility within its new investment objective and policy to continue to hold Russian securities".
Korean KEB HNB Bank (part of Hana Financial Group Inc) increased its assets in Russia by 170% (from $410mn as of 1.02.22 to $1.11bn as of 1.04.23).
The Letim application, with which Russians can apply for a virtual Turkish card of the Troy payment system, has appeared in the AppStore and PlayMarket. Virtual card payment is available via QR code in "all physical stores in Turkey". It is also possible to withdraw money from ATMs. For a digital wallet, online replenishment is provided.
Two sanctioned Russian oligarchs have become co-owners of Britain's biggest oil producer after it completed a deal to buy the German company. LetterOne, an investment company partly owned by oligarchs Mykhailo Fridman and Petr Aven, now owns almost 15% of Harbor Energy. Harbor Energy is the largest producer of oil and gas in UK waters. It bought most of the oil and gas assets of the German firm Wintershall DEA from the chemical giant BASF. LetterOne co-owned Wintershall and the shares were exchanged for Harbor Energy shares. Luxembourg firm LetterOne freezes $300 Million dividends after EU and UK sanctions on Russian billionaires.
Australia stopped buying fuel directly from Russia after its invasion of Ukraine, but has imported more than 3 million tonnes of Russian-origin petroleum products since 2023. Millions of tonnes of Russian oil have been sold through a port partly owned by Macquarie Bank, and potentially to Australian businesses.
Still operating in Russia
Trafigura said in a statement on Wednesday 13/07/2022 that its 10 per cent stake in Vostok Oil, a gargantuan Arctic development backed by Russian president Vladimir Putin, had been sold to “an independent Hong Kong registered trading company”, Nord Axis Limited.
Bloomberg investigation: North Wind Capital provides UK real estate financing through unusual structures. North Wind Capital, a little-known company that has been operating for two years, helped arrange financing for a potential buyer. The London-based firm has a niche in providing and arranging financing for deals that traditional lenders typically avoid. It has received backing from a trust owned by the family of Boris Mints, another Russian financier living in exile in the West.
Kazakhstani Nurbank has announced its cooperation with the new Russian money transfer system Kwikpay, according to a statement issued by the bank. The service offers fee-free bi-currency transfers, allowing funds to be sent in one currency and received in another. The partnership comes amidst challenges faced by Zolotaya Korona, a Russian payment system widely used in Kazakhstan.
Crypto exchange OKX closes access to some of its products to Russian users. Selected Earn offers, Shark Fin and Double Investment products will not be available to OKX users in Russia. Crypto exchange OKX reopened access to the site for Russian users, on August 7 Roskomnadzor of Russia restored user access to the okx.com platform. On August 29, 2023 one of the world's largest crypto exchanges, OKX, closed the possibility for customers to carry out transactions using the Russian ruble on its P2P platform. At the end of 2023, the growth of traffic from the Russian Federation on the OKX cryptocurrency exchange amounted to about 400% - from 250,000 to almost 1.25 million visits. This is evidenced by data from the SimilarWeb analytical service. The share of Russian traffic on the OKX exchange reached 9% in May 2024.
Ignoring sanctions, Russia has received almost $4 billion in illicit chips since the start of the war in Ukraine. Many were sent through a cluster of shell companies in Hong Kong. The companies have names such as Olax Finance and Rikkon Holding.
Since April 2022 OpenWay Group claims to have left the Russian market and ceased maintaining their clients. Yet, they cannot legally or technically prevent their former customers from using once purchased software because their “standard software license agreements are perpetual and do not require periodic license renewal, unlike the agreements of some of [their] competitors”. This is believed to be just a smoke screen as OpenWay Group retains its presence on the Russian market and keeps maintaining the Russian national payment system. Included in the list of international war sponsors by NACP.
In March 2022, Paysend, an international payment system founded by Russians and headquartered in the United Kingdom, announced its withdrawal from the Russian market. The foreign money transfer system Paysend, which formally announced its departure from Russia, in fact continued to operate in the country, taking advantage of a significant reduction in competition. (PS Development LLC and PS Processing LLC have business in Russia under Avosend trademark. Both companies are assumingly tied to Paysend Group Ltd or Paysend Nominees Ltd (UK) via PS Holding LLC (RU). PS development LLC earned more 1 bln. Roubles in 2023 as developer of Avosend app.)
Promised to divest from all Russian assets. But in the beginning of 2024 it appeared that Dutch pension funds write off Russian investments, except PFZW.
The Qatar Investment Authority cannot exit the Russian market and is waiting to assess its position there because of the Ukraine crisis.
The Reserve Bank of India has acknowledged the feasibility of an initiative to use an alternative mechanism to SWIFT for financial exchanges with Russia to facilitate trade settlements in rubles and rupees. The new transaction facilitation mechanism is needed to improve the efficiency of settlements in the national currency and speedy payments.
On January 12, 2023 the President of Ukraine, Volodymyr Zelenskyi, signed a decree on the application of sanctions against the Latvian company with Russian roots, Royal Pay Europe, which is a partner of the Russian bookmaker 1xBet.
The company Sentro Group acquired a controlling stake in the Russian bank "Mir Privilege". Sentro Group bought 50.001% of the bank's shares, the transaction amount is not disclosed.
Governor of the Moscow Region Andrey Vorobyov and Advisor to the General Director of Shanghai Gong Zi Machinery Manufacturing Co. Jia Yulong signed an agreement within the framework of SPIEF-2024 to create an assembly production of components for ATMs.
The central banks of Russia and Iran have completed the development of stages of integration of the Russian Mir payment system and the Iranian Shetab. Russian payment system Mir connected to Iranian Shetab.
Shinhan Bank will provide consultation services in English, Vietnamese, and Russian at the Foreign Language Customer Consultation Center on weekends to enhance the convenience of foreign customers.
It’s not just banks that are buying Russian metal on the LME: hedge fund Squarepoint bought about 50,000 tons of aluminum, the large majority of it Russian, as a bet on the market.
The London-based company SteadyPay brought Oleg Vaksman, ex-deputy board member of Gazprombank, and Mykyta Izmailov, former financial director of Parimatch, to the board of directors.
The company has been sanctioned by the United States for its dealings with individuals from Russia.
Continuing to operate in Russia. Did not return CNBC's request for comment. (Largest video game company in the world)
The U.S. Treasury Department has imposed sanctions on individuals associated with the TGR Group, an international network of companies and employees that facilitated sanctions evasion on behalf of the Russian elite. The U.S. Treasury Department alleges that the TGR Group is a sprawling sanctions evasion and money laundering network that works to conceal the illegal activities of its clients.
Indian UCO Bank will open an account in rupees in Gazprombank.
The Russian tour operator Pegas Touristik offers its customers to issue a MasterCard Momentum card from the Turkish Vakif Bank upon arrival in the country. This was first reported by CardReview, The card is issued for 1 year and costs 12.5 thousand rubles.
"Micron" not only disrupts deliveries, but also loses price competition. Chinese companies XH Smart Tech and Watchdata sell chips for 0.9 dollars (approximately 72 rubles) per piece, and micron chips cost 156 rubles. apiece.
Donates $1 million on humanitarian needs. Buys adds on websites of sanctioned Sberbank. Exposure is not declared. No statement after the invasion about bank's operations.
Worldline said in a statement: “In line with the recommendations of the European Securities and Market Authority (ESMA) relayed by the French regulator Autorité des Marchés Financiers (AMF), the Group confirms that its business related to Russia is limited, representing only c. 1.5% of its 2021 estimated proforma annual Worldline Group’s revenue on continued operations, mainly from its online acceptance business, operated from outside Russia and allowing domestic consumers to transact online with non-Russian international Merchants.”
"Micron" not only disrupts deliveries, but also loses price competition. Chinese companies XH Smart Tech and Watchdata sell chips for 0.9 dollars (approximately 72 rubles) per piece, and micron chips cost 156 rubles. apiece.
Continue operations with local staff. Aeroflot offered the lessor SMBC to buy out 17 leased aircraft for $644 million. The company also received an offer to “discuss potential solutions” from S7 and NordStar. Also, Japanese companies Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance will stop war risk insurance for ships passing through Russian waters from January 1, 2023.
Ameriabank CJSC from Armenia actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this.
Investigate if Russian customers are subject to European sanctions
Investigate if Russian customers are subject to European sanctions
No new investments in Russia or Belarus in sovereign or corporate debt, or public or private equity. Will not be creating new shares for their FTSE Russia ETF.
Such banks as Halyk Savings Bank of Kazakhstan JSC, First Heartland Jusan Bank JSC and Kaspi.kz JSC in Kazakhstan actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this.
Such banks as Halyk Savings Bank of Kazakhstan JSC, First Heartland Jusan Bank JSC and Kaspi.kz JSC in Kazakhstan actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this actively helped foreign companies and international investors who hastened to leave Russia to exchange their rubles for dollars, making good money on this.
Made statement about investments in Russia.
PIMCO‘s largest investment fund bought Russia government international bonds and hedged its position through credit default swaps (CDS) in the second quarter
An investment firm has promised to ditch its shareholdings in Russian companies,
Standard Chartered restricts transactions with covered areas (targeting so-called Donetsk People’s Republic and Luhansk People’s Republic of invaded regions of Ukraine)
Oriental Regent Ltd, a subsidiary of Hong Kong-listed Summit Ascent Holdings Ltd, is set to sell its gaming and hotel operations in Russia. The wholly-owned subsidiary, G1 Entertainment LLC, is being sold to Russian entity Dalnevostochniy Aktiv LLC for a price consideration of $116 million. Summit Ascent expects to record a profit of US$5 million in FY24 on improved performance at its Russian casinos. The performance improvement was driven by a 12% increase in gaming and hotel revenue to HK$414.5 million (US$51.8 million) at its Russian integrated resort, Tigre de Cristal.
Stop new business in Russia while meaningfully cutting exposure by 56%. Credit Suisse is shocked, with 17.6 billion Swiss francs blocked in CS alone. UBS sets ‘red lines’ for Credit Suisse staff as it completes takeover. UBS executives have drawn up a list of nearly two dozen “red lines” that prohibit Credit Suisse staff from a range of activities from the first day the two banks are combined, according to people with knowledge of the measures. Prohibited activities include taking on clients from countries such as Libya, Russia, Sudan and Venezuela and launching new products without approval from UBS managers.
The unprecedented situation leads RBI to consider its position in Russia. We are therefore assessing all strategic options for the future of Raiffeisenbank Russia, up to and including a carefully managed exit from Raiffeisenbank in Russia. RBI and its subsidiary banks continue to operate in compliance with local and international sanction laws. The Russian subsidiary of JSC Raiffeisenbank not only officially recognizes the so-called Donetsk and Luhansk "people's republics", but also provides favorable credit terms to the Russian occupiers in Ukraine. Raiffeisen Bank's Russian branch halts opening of new corporate accounts. The National Agency on Corruption Prevention included the Austrian banking group Raiffeisen Bank International in the list of international sponsors of the war for the continuation of the bank's work in Russia and the official recognition of the so-called "DPR" and "LPR". As reported, Raiffeisen paid 4.8 times more to the Russian budget in 2022 than for the entire pre-war year - 559 million euros (~$615million). It should be noted that this is equal to the cost of about 95 Kalibr missiles, with which the terrorist state regularly fires at peaceful Ukrainian cities. In addition, the bank plays along with Russian propaganda, calling the war a "special military operation". Raiffeisen Bank boosts pay for Russian staff by €200mn. Austria's RBI says Russian spin-off unlikely in 2023. Austria is seeking to have Raiffeisen Bank International, the biggest Western bank in Russia, struck off a Ukrainian blacklist in return for signing off fresh European Union sanctions on Russia. The National Agency on Corruption Prevention (NACP) temporarily excluded the Austrian Raiffeisen Bank from the list of companies sponsoring Russia's war before consultations (but returned it back later). Ukraine refuses to take Raiffeisen off Russia war blacklist. Raiffeisen Bank trumpets Russia growth plans in dozens of job ads. The head of Raiffeisen Bank International (RBI), Johan Strobl, said that in the third quarter of 2024, the banking group will begin to comply with the order of the European Central Bank (ECB) to significantly reduce business in Russia. Raiffeisen ceases all outgoing dollar payments from Russia due to US pressure. A Russian court has issued a preliminary injunction, by which shares of AO Raiffeisenbank are subject to a transfer ban with immediate effect. Raiffeisen Bank International AG (“RBI”) is the 100% shareholder of AO Raiffeisenbank. Court refuses to lift arrest on Raiffeisenbank shares. A Russian court on 05.12.2024 rejected an appeal by Raiffeisen Bank International (RBIV.VI), opens a new tab, against the freezing of shares of its local unit in a lawsuit filed by Russian investment company Rasperia, court documents showed. Raiffeisen’s Russian unit received more than 62 million rubles ($620,000) in fees for its services from one Russian chemical company in 2024, bank statements and other documents show. That firm supplied a sanctioned company with ingredients needed for producing military systems, according to the statements. Raiffeisen Bank International, the largest western bank still doing business in Russia, has halted attempts to sell its unit in the country amid a rapprochement between Washington and Moscow. Austrian banking group Raiffeisen Bank International (RBI) has denied reports that the sale of its Russian subsidiary has been suspended. This was reported by the company's press service. Raiffeisen Bank International AG has lost an appeal against a court ruling that ordered it to pay more than 2 billion euros ($2.3 billion) in damages to a company formerly owned by sanctioned Russian billionaire Oleg Deripaska. The EU is preparing to lift sanctions on assets linked to Russian oligarch Oleg Deripaska to compensate Austria's Raiffeisen Bank International for losses incurred for payments made in Russia.
Plans to stop investments in Russia this year
Suspending investments in Russia. Continuing to supply food packaging, hygiene and cleaning products. Continuing to operate a polymer dispersion plant in Russia. Has a stake in a polyurethane systems joint venture in Russia. Pledge of $275 K for humanitarian aid for Ukrainian people.
Initially stopped production at its St. Petersburg plant and stopped imports of vehicles; no statement about retail operations and services inside Russia. 23.09.2022: Toyota Motor decided to close its factory in Russia. But at the end of 2022 the Toyota concern was the first automaker to resume direct deliveries of spare parts to Russia. "We are talking about details that did not fall under the sanctions". Also, the Russian daughter of Toyota Motor (the official supplier of products in the Russian Federation) allowed its dealers to parallel import spare parts that are subject to restrictions, such as electronics. 07.2023: FEDERAL STATE UNITARY ENTERPRISE "CENTRAL ORDER OF LABOR RED BANNER SCIENTIFIC RESEARCH AUTOMOBILE AND AUTOMOTORNY INSTITUTE "NAMI" becomes the new founder of the organization. The record about the founder of JSC "TOYOTA TSUSE CORPORATION" has been deleted. The record about the founder of JOINT-STOCK COMPANY "TOYOTA BOSHOKU YUROP" was deleted. Toyota plant in St. Petersburg transferred to Aurus. Significantly (4x! times) decreased revenue in 2023 vs 2022. The dealer holding SP Business Car (94% of the company belongs to Toyota Motor) is again selling new cars of the Japanese brand. This follows from the announcements of the Moscow car dealership. Revenue stabilized in 2024 vs 2023. Toyota held a secret meeting with Russian dealers.
The German EOS Group, which owns one of the largest collection companies in Russia, is preparing to exit this business, two sources in the financial market told RBC. According to one of them, foreign shareholders of the Russian EOS were negotiating with at least four potential buyers. The German EOS Group has decided on a potential buyer of its collection agency in Russia — the asset can be purchased by the structures of Gazprombank (GPB). German EOS Group, which owns one of the largest collection companies in Russia, has changed its mind about selling its subsidiary to Gazprombank (GPB) structures, two sources in the financial market told RBK. According to one of them, the foreign shareholders of the Russian EOS have “withdrawn from the deal”; negotiations that have been ongoing since at least the fall of last year are no longer ongoing. It became known in the spring of 2024 that EOS Group had begun looking for a buyer for its business in Russia. Revenue decreased in 2024 vs 2023 by more than -10%.
Continued relations with Russia. Among the "rich" French in Russia, it is worth mentioning the sugar giant Sucden. It has more than 250 thousand hectares of arable land in Russia. And in addition to sugar, it produces wheat, barley, sunflower, peas and corn. According to the results of last year, its net profit increased almost 2.7 times to 3.4 billion rubles. Revenue also increased many times - to 13.6 billion rubles. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.
Received revenues in Russia. Denizbank have suspended use of Russian payment system Mir, the banks said on Monday, following a U.S. crackdown on those accused of helping Moscow skirt sanctions over the war in Ukraine. The Turkish bank began to reset and close the accounts of the Russians. The Turkish bank began to reset and close the accounts of Russians.
The Russian structure of the Italian Antares Vision, which supplies equipment for product labeling, has encountered a blocking of transactions in the Moscow representative office of Intesa Bank. Revenue decreased in 2024 vs 2023 by more than -20%.
Suspend new business in Russia and reduce current exposure by helping clients unwind Russia securities; reducing Russian client services; passed back the license of the depositary activity. The Swiss bank UBS has begun mass inspections of clients of Russian origin. As follows from the UBS letter, the bank intends to clear its client base of Russians under sanctions. The inspection is being conducted "in connection with the measures taken by the Federal Council in relation to Russia," the document says.