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 CompletedThe list of new sanctions by the US Treasury Department, published on October 30, included seven companies. Severstal Aviation Enterprise LLC, owned by another oligarch close to the Kremlin, Alexei Mordashov, also imports business jet parts to Russia. In February, sealing rings for Bombardier gaskets were imported. This is the type of aircraft Mordashov uses. Ascend Aviation India Pvt. Ltd. from India supplies the oligarch with aircraft parts. It exports products made in Mexico and the US to Severstal's aircraft fleet.
The list of new sanctions by the US Treasury Department, published on October 30, included seven companies. Companies providing business aviation and air services are engaged in importing parts for Falcon to Russia. Thus, the company Heli-Tech imported an American gas turbine engine last summer for $602 thousand. The delivery was made through the Turkish company Madena Otomotiv Insaat Elecrtonic Tic Ltd. Moscow-based OOO Aog Logistic imported an oxygen supply regulator manufactured by Safran Aerotechnics (France). The seller was the company Shaurya Aeronautics Pvt from India. In January of this year, the Turkish company Meva Hava Araclari sold the Russian OOO Alliance MN Group an electrohydraulic control unit for the release and retraction of the chassis of French manufacture. The cost of such a unit is $223.5 thousand.