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
No official statement
Avind International Oy acquired in 2021 Transpoint International (FI) Oy and its two Russian subsidiaries owned by VR Group. With the acquisition, Avind will become one of Finland’s largest Russian logistics companies, that offers services also to CIS-countries, Central-Asia and China. Logistics company Avind from Khamina left its main market - "We left Russia because of the war, business is turning 180 degrees". Revenue increased in 2024 vs 2023 by more than +30%.
The company continues to work in Russia. "We have tried to express our view that being in Russia is not irresponsible, but rather in keeping with the spirit of the sanctions. It is inconsistent with our values to 'give away' our assets to players who may be under sanctions. Our Russian subsidiaries have undoubtedly continued would have its business under the control of a new owner, in which case any operating income would remain in Russia, and Elecster Group would lose a significant amount of property in Russia, as well as profits with which we could invest in Finland and other markets we believe that continuing our activities in Russia now and in this situation is in the interests of our stakeholders."
The Finnish company HD-Parts from Vantaa successfully exports trucks and spare parts to Russia worth millions of euros. This information was revealed by the Yle MOT investigation.
The USA expanded sanctions against companies and individuals from Russia. Finnish companies Siberica and Luminor, as well as members of their management who are citizens of France and Estonia, are also on black lists.
The Kremlin-connected Russians employed by Europe's Top security body. Baltic foreign ministers pull out of OSCE summit over Russia invite.
Produces parts for heavy trailer manufacturers, continued sales and export to Russia in 2023.
The USA expanded sanctions against companies and individuals from Russia. Finnish companies Siberica and Luminor, as well as members of their management who are citizens of France and Estonia, are also on black lists.
Owns russian subsidiary - Tremco CPG Finland Oy owns 100% of the outstanding shares in Tremco illbruck ooo, a Russian company.
Aluminum exports to Russia have doubled in a year – the Turku pin is behind it. Turvanasta is a family business from Turku, co-owned by the wife of the leader of the Finnish People's Party (RKP), Minister of Education Anders Adlerkreutz. A year ago, Turvanasta CEO Mikko Salakari acknowledged Russian exports in a press release, but appealed to subcontracting contracts that bind the company. According to Turvanasta CEO Mikko Salakari, the company does not know for which country the customer wants to receive pins when preparing an order. Salakari does not see a moral problem for the company that the products end up in Russia, since they cannot influence this. According to him, stopping the business would be more morally questionable due to the reduction in tax and export revenues and job losses.
Ahlstrom-Munksjö has discontinued exports to Russia and Belarus.
Bang & Bonsomer has suspended all new investments in Russia and will not engage in any new business in Russia until further notice. The company has been engaged in active negotiations to reduce its financial and legal liabilities in the country. Revenue decreased in 2024 vs 2023 by more than -20%.
Replaced Russian crude with other sources. (Previously purchased 2/3 of crude from Russia). Due to the new sanctions, Neste has suspended fuel supplies to the Finnish gas station chain Teboil, for which Neste was the primary fuel supplier. Neste has not officially confirmed the halt in fuel supplies to Teboil, which is wholly owned by Russia's Lukoil.