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
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.)
Leaving the Russian market- Moscow office continues as an independent law firm (80 employees)
Has temporarily paused Russian accounts. OnlyFans website temporarily stopped opening in Russia. And then it started to work again.