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
Aiding Russia’s war machine.
HK GST Limited, advertises chips essential to Russian cruise missiles, including the Kh-101, which was recently used in a strike on Kyiv that killed 10 civilians. The firm was incorporated in Hong Kong nine months ago, and its website was set up in February. An analysis of website hosting data, domain ownership, code patterns and contact details links the company to a network of four similar electronics distributors, including Singaporean-based ChipsX and Carbon Fiber Global, a high-performance drone part manufacturer based in China. All of these companies were set up within the last three years.
The U.S. Treasury Department's Office of Foreign Assets Control has imposed sanctions on five entities and two entities based in Iran, China, Hong Kong, Turkey, and the United Arab Emirates. irats that are accountable to the transnational measure of drone proliferation in Iran.
Aiding Russia’s war machine.
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.
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.
Brussels plans sanctions on Chinese companies aiding Russia’s war machine. Sigma Technology’s operations in China are not connected or affiliated with the other Hong Kong company named Sigma Technology that was mentioned in the Financial Times earlier.