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
Despite the initial threats, the listed web services remain operational and available in Russia, such as YouTube, Wikipedia, Telegram and Zoom. The authorities will spend 1 billion rubles to replace Telegram for officials. Telegram filed a protocol for refusing to localize data. Messenger faces a fine of 6 to 18 million rubles. Telegram was fined 4 million rubles. for refusing to delete content prohibited in the Russian Federation. Tech giants Google, Meta, TikTok, and Telegram settle Russian fines. Telegram will open an official representative office in Russia, starting to comply with the requirements of the "landing" law. This law obliges large IT companies to register and place part of their infrastructure in the Russian Federation.
Dubai's DP World temporarily halts Ukraine operations, reviews business in Russia. DP World, one of the world's largest operators in the field of container transportation, signed an agreement with Rosatom on the development of the Northern Sea RouteCD2537. Increased revenue in 2022 vs 2021. NACP included one of the world's largest port operators DP World (Dubai Port World) in the list of international sponsors of the war. Ministers are facing calls to review the UK’s financial ties to the multinational logistics company DP World over its business deals in Russia. Revenue increased in 2024 vs 2023 by more than +30%.
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue increased in 2024 vs 2023 by more than +30%.
According to Kpler, for the first time this year, LUKOIL shipped low-sulfur oil from its Caspian fields to the Emirati ADNOC refinery in Ruwais. This is the second such delivery to the refinery of the Emirati company.
Some Dubai merchants appear to have little specialized experience in precious metals. Actava Trading DMCC, which imported about $25 million of Russian gold in August, describes itself as a crop trader focused on the Black Sea region.
Britain imposed sanctions against Turkish and UAE companies for military supplies to Russia. The sanctions list includes Aeromotus Unmanned Aerial Vehicles Trading LLC from Dubai, which supplies Russia with drones and their components.
Maintaining operations in Russia. Foreign airlines are actively resuming acceptance of Russian Visa and MasterCard cards for ticket payment. So, Air Arabia and Fly Dubai offer to conduct a link operation through the fast payment system (SBP). Air Arabia joins Etihad to expand to Russia, launches new routes to Yekaterinburg and Kazan.
The US imposed sanctions for aiding the Russian military-industrial complex and circumventing export controls. The Ministry of Finance also sanctioned UAE-based Albait Al Khaleeje General Trading LLC for acting as a conduit for the shipment of sanctioned goods to Russia. According to the information, the company, which advertises itself as an exporter of auto parts, participated in more than 6,800 deliveries to Russian customers.
Customs documents show AMG purchased about $600,000 worth of Tsugami equipment from an official Japanese supplier in 2021. The purchase then increased after the incursion to $50 million in 2023, with the entire increase coming from two shadowy middlemen. Amegino's first provider is a UAE-based provider under US sanctions whose website is initially hosted on servers in Russia. Its owner is Andriy Mironov, according to the corporate intelligence company Diligencia; There are no other details about Mironov's past. The second company is ELE Technology, which fraudulently presents itself as a "division of Gray Machinery Company", a distributor of machine tools in the USA.
Dubai-based AMUR TRADING - FZCO and AMUR INVESTMENTS LIMITED are one of the largest traders buing Russian oil from Rosneft.
According to OFAC (Office of Foreign Assets Control), ARX offers Russian investors the opportunity to transfer Russian financial assets and open brokerage and bank accounts in the UAE. The company has been sanctioned by the United States for its dealings with individuals from Russia.
The issue of the admission of the Russian Chess Federation (RCF) to the Asian Chess Federation was central to the next continental assembly of the ACF in Abu Dhabi. As a result, the overwhelming majority of delegates — 29 — spoke in favor of the RCF joining it
The Dubai company ATS Heavy Equipment & Machinery sold the most parts to Russia. More than 700 deliveries worth more than $40 million were made in just one year. The largest number of spare parts for Boeing and Airbus aircraft went to the Aeroflot group, which, in addition to Aeroflot itself, includes the companies "Russia" and "Pobyeda".
Coral Energy DMCC bought 121,000 barrels a day of Russian crude in the final four weeks of December from Surgutneftegas PJSC.
Inditex SA, which runs the Zara and Bershka clothing chains, obtained approval to sell its business in Russia to Daher Group of the United Arab Emirates.
Deluxe Holiday Homes Partners with Russian travel agencies to Accept MIR Cards.
The main suppliers of Boeing parts for the Protector, according to Customs, were three companies from the UAE - Trade One Middle East, Desert Sun Supply and Griffon.
Dubai Sea Breeze has shipped U.S.-origin aircraft parts and equipment to Russia. Dubai Sea Breeze’s Russian-language website caters to construction, heavy equipment, and aircraft industry clients seeking to obtain products manufactured in the United States and Europe.
Lukoil has added 25 old tankers to its shadow fleet. All purchases were financed by Dubai-based Eiger Shipping DMCC, which is owned by Litasco Middle East DMCC, the Middle East subsidiary of Litasco, Lukoil's oil trading division. Eiger provided the money in advance, chartering the vessels in preparation for acquisition.
The company doesn't match the global sanctions imposed on Russia. The flights to Russia will continue to operate until UAE will join the sanctions. A number of airlines in the Middle East accept Visa and MasterCard issued by Russian banks for payment. On Emirates, Air Arabia and Fly Dubai flights, it is again possible to pay for a ticket with Russian "plastic".
Still flying to Russia. Etihad Airways is strengthening its connections to the Middle East and Russia with a third daily flight to Moscow and a new flight to Sochi, offering more travel options for travelers around the world. Air Arabia joins Etihad to expand to Russia, launches new routes to Yekaterinburg and Kazan.
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.
Flavic FZE (Flavic) imports and exports aviation equipment and technology to and from Russia for repair, reconstruction, testing, and other maintenance, and is certified to work with the Russian Ministry of Defense.
Foreign airlines are actively resuming acceptance of Russian Visa and MasterCard cards for ticket payment. So, Air Arabia and Fly Dubai offer to conduct a link operation through the fast payment system (SBP). United Arab Emirates operator Flydubai and Kazakh regional carrier Qazaq Air are suspending services on some Russian routes in the wake of the Azerbaijan Airlines Embraer 190 crash. Flydubai plans to restore flights from Dubai to Mineralnye Vody and Sochi, which were cancelled at the end of December 2024.
Fossil Trading has a direct connection with "Rosneft," particularly through its ownership of Energopole SA, which was established in 2020 after Rosneft Trading came under sanctions due to trading Venezuelan oil.
The U.S. Department of the Treasury has announced sanctions and blocked three oil tankers that were transporting Russian oil in violation of the established price ceiling of $60 per barrel. The new U.S. sanctions target three companies registered in the United Arab Emirates – Kazan Shipping, Progress Shipping, and Gallion Navigation, which own the tankers "Kazan," "Ligovsky Prospekt," and "NS Century," respectively.
Rosaviation has approved Dubai-based Global Jet Technic to maintain Russian-registered Airbus and Boeing aircraft.
GREEN ENERGY SOLUTIONS PROJECT MANAGEMENT SERVICES SOLE PROPRIETORSHIP LLC (GREEN ENERGY SOLUTIONS) is a newly established engineering company based in Abu Dhabi, United Arab Emirates. GREEN ENERGY SOLUTIONS provides engineering services and technology, which were previously provided by European service companies, to Russia’s Arctic LNG 2 project.
UAE-based law firm Habib Al Mulla and Partners set a new milestone as it established its presence in Russia with the opening of an office in Moscow, becoming the first Arab law firm to do so.
The US Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions against 19 tankers carrying Russian oil under the flags of Liberia and Panama. The tankers belong to two companies: Hennesea Holdings Limited (UAE) and Cielo Marine Ltd (Hong Kong). About the shipping company Hennesea Holdings Limited (Hennesea), based in the United Arab Emirates, it is known that it is the ultimate owner of 18 vessels that were engaged in the transportation of crude oil of Russian origin at a price higher than 60 dollars per barrel.
US Treasury sanctions Huriya Private for 'moving Russian finance into the UAE and money laundering'.
Ukraine introduced sanctions against the Iranian drones produces and air transportation companies from UAE.
The Department of the Treasury imposing sanctions on two CAR-based entities, Midas Resources SARLU and Diamville SAU; one UAE-based entity, Industrial Resources General Trading for their connection to the transnational criminal organization known as the Wagner Group.
The U.S. Department of the Treasury has announced sanctions and blocked three oil tankers that were transporting Russian oil in violation of the established price ceiling of $60 per barrel. The new U.S. sanctions target three companies registered in the United Arab Emirates – Kazan Shipping, Progress Shipping, and Gallion Navigation, which own the tankers "Kazan," "Ligovsky Prospekt," and "NS Century," respectively.
Treasury Sanctions Entities for Transporting Oil Sold Above the Coalition Price Cap to Restrict Russia’s War Machine. The crude oil price cap took effect in December 2022 with a cap on Russian crude oil at $60 per barrel. The SCF Primorye carried Novy Port crude oil priced above $75 per barrel from a port in the Russian Federation after the crude oil price cap took effect. United Arab Emirates-based Lumber Marine SA is the registered owner of the SCF Primorye.
A newly formed company in Dubai has purchased three liquefied natural gas tankers in what appears to be Russia's latest attempt to circumvent Western sanctions. In September, aspects of the management of the Veliky Novgorod, Pskov and Laperuz ships, which were previously managed by Russia, were transferred to a company called Matias Ship Management. Shell companies based in Dubai are often used to procure tankers, hiding their ultimate ownership and management from Western authorities.
The USA imposed sanctions on the US company Mega Fast Cargo for the delivery of goods of American origin to Russia.
Mobitronix LLC (Mobitronix) is involved in the trade of satellite receiving equipment and other computer equipment, and has shipped high-priority goods, including electronic integrated circuits; machines for the reception, conversion, and transmission of data; tantalum capacitors; ceramic capacitors; and electrical parts, to Russia.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
The United States has placed the following UAE shipping companies on its sanctions list: Oil Tankers SCF Mgmt Fzco, Talassa Shipping DMCC, as well as Zeenit Supply and Trading DMCC. According to OFAC's press release, all of the listed legal entities are affiliated with each other and have been observed transporting Russian oil at a price exceeding the price ceiling of $60 per barrel.
According to documents cited by the Financial Times, between August 2022 and January 2023, this company imported $44 million worth of Russian gold to the United Arab Emirates (UAE) in six batches. Open Mineral Ltd, registered in Abu Dhabi a year ago and fully owned by Open Mineral AG with headquarters in Zug (Switzerland). According to documents cited by the Financial Times, between August 2022 and January 2023, this company imported $44 million worth of Russian gold to the United Arab Emirates (UAE) in six batches.
The UAE has become the main new destination for Russian gold. Paloma Precious DMCC, a trader with offices in the Dubai Free Zone and the gold market, imported $109 million, the data showed.
The UK government sanctioned an energy trader linked to Russian oil-trading as it seeks to tighten its measures designed to stop cash flowing to Moscow. In a sweeping set of measures that also included Russia’s gold sectors, the UK said it sanctioned Paramount Energy & Commodities DMCC.
The U.S. Department of the Treasury has announced sanctions and blocked three oil tankers that were transporting Russian oil in violation of the established price ceiling of $60 per barrel. The new U.S. sanctions target three companies registered in the United Arab Emirates – Kazan Shipping, Progress Shipping, and Gallion Navigation, which own the tankers "Kazan," "Ligovsky Prospekt," and "NS Century," respectively.
The third-largest trader is Dubai-based QR Trading DMCC, which bought 199,000 barrels a day from Surgutneftegas.
Sharjah Chamber organizes Sharjah-Russia business forum, briefs Russian investors on business opportunities.
The United States added two companies from the UAE and one from Liberia to the SDN-List, as well as the tankers they own, for transporting Russian oil above the "price ceiling". These are HS Atlantica Limited (Liberia) and its vessel HS Atlantica, and Sterling Shipping Incorporated (UAE) and its vessel NS Champion. The third company against which sanctions have been imposed is Streymoy Shipping Limited (UAE), its tanker is Victor Bakaev. All vessels subject to sanctions fly the flag of Liberia.
The United States added two companies from the UAE and one from Liberia to the SDN-List, as well as the tankers they own, for transporting Russian oil above the "price ceiling". These are HS Atlantica Limited (Liberia) and its vessel HS Atlantica, and Sterling Shipping Incorporated (UAE) and its vessel NS Champion. The third company against which sanctions have been imposed is Streymoy Shipping Limited (UAE), its tanker is Victor Bakaev. All vessels subject to sanctions fly the flag of Liberia.
Ukraine introduced sanctions against the Iranian drones produces and air transportation companies from UAE.
The EU is discussing whether to sanction Dubai-based shipping company SUN Ship Management Ltd, which is suspected of helping Russia circumvent restrictions on its oil exports. The company is included in the sanction list of the US Treasury.
The U.S. Department of Commerce has imposed export restrictions on seven individuals and three entities. They are accused of illegal export of dual-use electronics to Russia, including Russian companies cooperating with the Armed Forces of the Russian Federation.
The United States has placed the following UAE shipping companies on its sanctions list: Oil Tankers SCF Mgmt Fzco, Talassa Shipping DMCC, as well as Zeenit Supply and Trading DMCC. According to OFAC's press release, all of the listed legal entities are affiliated with each other and have been observed transporting Russian oil at a price exceeding the price ceiling of $60 per barrel.
The other buyers of russian oil include Tejarinaft FZCO, a Dubai company which bought 244,000 barrels a day from Rosneft in December 2022.
Identified by YouControl as one of TOP companies with foreign shareholders which have been registered in Russia after the invasion to Ukraine was started.
The company is included in the sanction list of the US Treasury. UAE-based Voliton DMCC (Voliton), formerly known as Petrokim Trading Middle East and Asia DMCC, has also sharply increased its share of the trade of Russian oil since the price cap policy was implemented. Since June 2023, vessels chartered by Voliton have made at least eight port calls in Russia.
The United States has placed the following UAE shipping companies on its sanctions list: Oil Tankers SCF Mgmt Fzco, Talassa Shipping DMCC, as well as Zeenit Supply and Trading DMCC. According to OFAC's press release, all of the listed legal entities are affiliated with each other and have been observed transporting Russian oil at a price exceeding the price ceiling of $60 per barrel.
Plans to stop investments in Russia this year
One of the largest banks in the UAE — Emirates NBD — will begin transferring assets of Russians to separate accounts, where all payments on securities belonging to them will go. Investors managed to unlock part of the assets on accounts with Emirates NBD. We are talking about securities of American issuers and part of the funds on investment accounts in ENBD. Access to European securities and payments on them remains limited.
The neobank Wio operating in the UAE, which until recently accepted money transfers in dirhams from individuals from Russia, has stopped doing so.