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 CompletedThe company's plants are located in America and Europe. The plant in Yelabuga has become the second in Russia after the plant in Nizhny Novgorod. Revenue and profiit significantly increased in 2022 vs 2021.
No relevant news about leaving Russia.
The Belgian corporation Puratos, which operates in the food industry market, has not left the Russian market and continues to operate in Ukraine.
Suspended operations and new investment in Russia, suspended dividend payments from Rusvinyl (an independent 50:50 joint venture in Russia). A year after Russia’s invasion of Ukraine, Solvay has inked a deal to sell its 50% interest in the RusVinyl polyvinyl chloride joint venture to its partner for $450 million. Revenue increased in 2024 vs 2023 by more than +30%.
Continuing business in Russia and exports but significantly reduced volumes. Significantly reduced revenue in 2023 vs 2022. Revenue increased in 2024 vs 2023 by more than +50%.
The company continues to work in Russia and is a distributor.
Zeebrugge's independent gas infrastructure operator, Fluxys, provides LNG storage and transshipment capacity to Yamal LNG, a joint venture controlled by the Russian gas company Novatek, which is reportedly directly involved in the financing of military aggression and war crimes. The National Agency of Ukraine for the Corruption Prevention (NAСP) included the Belgian independent operator of the Fluxys gas system in the list of international sponsors of the war. The reason was that the company promotes the export of Russian liquefied natural gas (LNG), which provides financing for the Russian invasion of Ukraine.
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.
Continue operations with Russia.
In February, the Dutch Nuclear Safety and Radiation Protection Authority issued permission to the special transport company Transrad to import UF6 into the country from Russia for the Dutch division of Urenco for a period of three years, which caused a scandal. Russia today controls almost 50% of the world's uranium enrichment capacity, and Rosatom supplies more than a fifth of the enriched uranium for nuclear reactors in the United States and Europe. Urenco accounts for 31% of the uranium enrichment market.
Unil Lubricants (Belgium) - produces engine, transmission and hydraulic oils, greases, metalworking fluids and sprays. They have an extensive distribution network in Russia.