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
Exit CompletedThe company, whose ties to Russia had exacerbated its financial difficulties after the Kremlin’s invasion of Ukraine, is restructuring its debt for the second time in less than a year. Hilding Anders, which owns a 73% equity stake in Russian bed manufacturer Askona Group (through the Cypris-based company HAILCROFT LIMITED), hasn’t been receiving dividends from the unit as it was ring-fenced from the rest of the group amid sanctions-related red tape. Hilding Anders AB still has major Russian operations is a key supplier of beds for IKEA. "At that time, Hilding Anders also acquired a prestigious customer in the form of the current large network of IKEA stores. The two Swedish companies began a cooperation, which has lasted to this day." (https://www.curem.pl/en/o-curem). "The group includes major retailers such as Ikea, Otto and Amazon as significant customers." (https://www.prnewswire.co.uk/news-releases/hilding-anders-a-kkr-portfolio-company-appoints-jason-forbes-as-president-of-online-brands-and-global-chief-digital-officer-838142990.html).
On 01.06.2022, the company announced the continuation of its operations in russia: "One of the most popular questions to our team and me in particular is whether we plan to stay in the russian market. The answer is unequivocal: we will continue to work!" said Alexey Nuzhny, CEO of ESAB, russia and CIS. The Director of ESAB Welding Materials continued: "We are facing challenging times, but the ESAB team sees them as opportunities. Our task is to increase production and expand the local range of products." In June 2023, ESAB announced the start of production of vacuum-packed welding electrodes in Russia. ESAB, through its russian distributors Acropolis and Weldexpert, also presented high-tech welding equipment at the STT Expo and Metalworking 2023 trade shows.
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
According to the Russian Customs, in 2021 the leadership belonged to the Swedish company Vaderstad, which accounted for 34% of Russian imports. After the Russian invasion of Ukraine, Vaderstad ceased sales, and its share was divided by competitors.
Donating $50,000 to support humanitarian efforts in Ukraine. Also donated $1million to support Ukrainian refugees. Promised to suspend operations in Russia but Customs data shows that the latest deliveries were in Feb 2023.
Not leaving or suspending. Paused all shipments in and out of Russia. Starting deliveries again after legal actions taken to be able to continue them. Alfa Laval expects to have largely completed the wind down of business activities in Russia by mid-2023. The company has not accepted any new orders for delivery to Russia, or for use in Russia, since 3 March 2022. Since the Russian invasion of Ukraine, Alfa Laval has decreased the number of employees from 230 employees to 60 at the end of March 2023, and the number will continue to decrease until the wind down is completed. Some employees will remain somewhat longer to manage the premises and entity.
Planned exit of business in Russia and gradual wind down business activities in Russia over the coming months. Previously had suspended deliveries to Russia while evaluating further actions. Said "it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the Ukraine war started", after Swedish media reported the company had continued its exports. Early in February 2023, Maxcomm LLC declared the import of components for 20,000 base communication stations of the Swedish company Ericsson AB, which officially ceased operations in the country a year ago, to Russia. The Swedish government did not allow Ericsson to supply equipment to Russian companies. Ericsson suspended its business in Russia in April and said in August that it would leave the country in the coming months. It booked 900 million Swedish crowns ($81 million) in costs and laid off 400 employees in the country as it winds down operations. Ericsson said it only provides software and technical support to Russian customers and has not sold any telecommunications equipment to mobile operators since the start of the war in Ukraine after Swedish media reported, the company resumed exports.
Promised to suspend deliveries and sales to Russia. But was discovered to have continued sales to Russia through Feb 2023 despite claiming the contrary.
Kährs started a process to evaluate the possibilities and conditions for divesting its operations in Russia.
Nobel Foundation reverses decision to invite Russia to prize ceremony following backlash.
Initially suspended all postal items to and from Russia and Belarus. But as of July 11, 2022 mail flows to Russia and Belarus resumed and since October 21, 2022 postal shipments from Belarus and Russia have been resumed. For commercial logistics flows not covered by Universal Postal Union rules, the previously announced suspension is still in effect.
Semrén & Månsson Arkitekter cut all collaboration with the Russian branch early March 2022 (but website https://semren-mansson.ru/ still exist). The board of Semrén & Månsson has since June 2022 decided to divest the Russian branch, aiming to minimize the impact on the employees and ensure an orderly and responsible process in accordance with regulatory and legal obligations. Furthermore, Semrén & Månsson donated 100,000SEK to support the UNHCR’s humanitarian efforts in Ukraine and will, of course, always follow the political directives set by the Swedish government.
Has decided to suspend all financial transactions where payments are made to or from Russia and Belarus. Latvian branch of Swedbank to pay 3.4 million dollars over Crimean sanction violation.
Yubico does not directly ship keys to Russia, it has informed channel partners to immediately halt any sales of YubiKeys to Russian companies, unless they are for humanitarian efforts,