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 largest assets represented in Russia are the dairy product manufacturer Savushkin Product (brands Savushkin, Brest-Litovsk, Teos, Sveza and others), food manufacturer, primarily seafood, Santa Bremor (brands Santa Bremor, “Russian Sea”, “Mathias” and others) and the retail chain “Santa Retail” (more than 300 stores in Belarus). Increased revenue in 2023 vs 2022.
The Russian market has been replenished with new brands. The Belarusian brand Swed House, which positions itself as an analogue of IKEA and sells goods of a similar range, has abandoned its store in St. Petersburg (600 sq. m in Parnas City).
Belarusian Cement Company (BCC) increased its cement supplies to the Russian Federation by 3.5% year-on-year in the first half of 2024, and by 50% in June 2024, reports Belta News. Major sales markets for BCC in Russia include Moscow, Moscow Oblast, the Central Federal District and the North-Western Federal District.
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 US Treasury imposed sanctions on the Minsk Civil Aviation Plant and Belavia. The United States is trying to prevent Donald Trump's decision to lift sanctions against Belarusian airline Belavia from opening the way for the supply of critical aircraft parts to Russian airlines.
The Belarusian automobile brand Belgee announced its official entry into the Russian market. As the company's press service reported, the dealer network of the Belarusian brand will be launched on July 1 of 2024. X50 becomes BelGee's best-selling model in Russia in January-October 2025.
The Bellegprom concern and the Russian Export Centre signed a memorandum of co-operation at Commonwealth of Fashion, an international forum in St. Petersburg, sb.by reports citing the Bellegprom press service.
Since 2023, the company has entered the Russian market.
The US has imposed export restrictions on 37 companies, nearly 30 of them Chinese, for activities that include aiding the Russian military and supporting China's PLA. The list also includes DMT Electronics, which is said to be based in Russia, as well as Belarusian DMT Trading LLC.
The US Treasury imposed sanctions on the Minsk Civil Aviation Plant and Belavia.
Since 2023, the company has entered the Russian market.
BelAZ-Holding includes eight enterprises, and its products are exported to 80+ countries around the world, including to Russia. Increased revenue in 2023 vs 2022. Revenue decreased in 2024 vs 2023 by more than -10%.
US imposes sanctions against Belavia and four other Belarusian companies (including Byelorussian Steel Works). Was identified by Forbes.ru in the rating of 50 largest foreign companies in Russia - 2024. Revenue decreased in 2024 vs 2023 by more than -10%.
Exports goods to Russia that could also be used for military purposes, which is a violation of European Union sanctions. Revenue decreased in 2024 vs 2023 by more than -10%.