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 CompletedInitially suspended operations in Russia. The company's statement regarding Ukraine contained the following sentence: "we have decided to temporarily suspend all non-essential activities and development plans in Russia, like most other food companies" later this part of the statement was revised to "All non-essential activities and development plans in Russia remain on hold ”, avoiding comparison with “other food companies”. The vast majority of exports are direct. Comparing total exports for the year beginning March 1, 2022 versus a year earlier by value, the growth is 33% ($120 million vs. $90 million). The 33% increase in value was not enough to maintain the market share of exported chocolate: it fell from 18.2% to 16.9%.
No official statement
No official statement
Still operating in Russia and significantly increased profit and revenue in Russia in 2022 vs 2021. Promised to stop all new investments, all promotional and advertising activities. Only basic activities continue to maintain the employment of ~1,500 staff. Perfetti Van Melle as a Group is donating 2 million euros to the International Red Cross (International Federation of the Red Cross) as a contribution to its ongoing commitment to providing support to victims, refugees, families and especially children.
Promised to host all new investments and advertising activities and not to profit from the presence in Russia, made donation to UNHCR and Red Cross. Barilla continues to produce pasta in Russia and increased its revenue in 2022 vs 2021.
Continue operations in Russia
The company stopped all investments in Russia including advertising & promotions and reduced the business to minimum necessary to pay the salaries to the local staff. Still operating in Russia with increasing revenue volumes in 2022 vs 2021. Campari ramping up their marketing and sales in Russia 30 August 2023. The Italian Campari Group, which owns the Aperol brand, has planned to launch its new aperitif Sarti Rosa on the Russian market.
Italy's Recordati boosted by strong sales in Russia. Italian drug maker Recordati benefited from strong demand in markets such as Turkey and Russia in the first three months of the year, its chief executive said on May 11, 2023 after the company lifted its annual revenue and profit targets. Koremans said that Recordati did not produce any products in Russia but continued to import treatments for rare diseases, as well as prescription drugs for more routine conditions.
Continues cooperation and fulfillment of its obligations. Hiding their presence in the temporarily occupied Crimea and cooperating with the Military Industry of Russia: Camozzi Group is included in the list of international sponsors of war.
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Promised to suspend new investments but opened its 80th store in Russia in March 2022
Group's financials says considers Russia a main market. Revenue and profit skyrocketed in 2022 vs 2021.
Italy's Marcegaglia buys Russian steelmaker Severstal's Latvia unit. Aslo have a production plant at Vladimir, Russia ("Marcegaglia Ru LLC").
Still operating in Russia. UniCredit is considering leaving the Russian Federation, but with the possibility of returning after the war - Bloomberg. UniCredit Bank, a subsidiary bank of the Italian group UniCredit, in 2022 increased its net profit according to the RAS by 4 times, to 56.5 billion rubles, according to the reporting of the credit organization. It is reported that at the moment two banks — Creditas and UniCredit Bank — have confirmed that they are canceling the accounts of Russian and Belarusian citizens. According to the representative of UniCredit Bank Petr Plotsek, the bank has long been applying special rules for opening and maintaining accounts for persons from outside the EU. He emphasized that such persons, both physical and legal, must prove a reliable and justified connection with the Czech Republic, although the bank does not publish these rules due to their nature.
Received revenues in Russia in 2021, there is no any official announcement
Significantly increased revenue, assets, capital and net profit in 2022 vs 2021. Rosselkhoznadzor has banned the import of pet food from the Italian brand Farmina Pet Foods. The regulator claims that arsenic was repeatedly found in the products produced by the company’s plant in Serbia (arsenic was first discovered in these feeds on December 15, 2023). Restrictions are introduced from January 31, 2024.
No official statement
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 2021-2022.
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
Received revenues in Russia in 2021, there is no any official announcement.
Continuing business in Russia and exports, increased revenue and profit in 2022 vs 2021.
Chiesi Group plans to maintain operations in the Russian territories, focusing primarily on medical information and disease awareness and ensure access to our therapeutic options. Chiesi Group is however temporarily pausing any new recruitment of patients for all ongoing clinical trials in Russia, though continuing to treat all those already enrolled and ensuring they receive all the therapeutic solutions they need. "Our focus will always remain on our patients, and Chiesi will continue to prioritise uninterrupted access to treatments to patients in Ukraine and Russia and surrounding territories, despite the unstable situation."
Still operating in Russia & online sales running
Still operating and investing in Russia
Received revenues in Russia in 2021, there is no any official announcement
The company continues to operate in Russia.
Received revenues in Russia in 2021-2022, there is no any official announcement. The Italian arms manufacturer Beretta, despite the sanctions, still exports small arms to the Russian Federation through its own "daughter" and the company of Russian arms baron Mikhail Khubutia.
No official statement
Received revenues in Russia in 2021, there is no any official announcement
Continuing business in Russia and exports, revenue and profit increased in 2022 vs 2021.
Received revenues in Russia in 2021, there is no any official announcement
Received revenues in Russia in 2021, there is no any official announcement
No official statement
No official statement
Received revenues in Russia in 2021-2022, there is no any official announcement.
No official statement
No public action found. (Office in Moscow. Customers include Auchan hypermarkets, Okey foodservice chain, Russian Parliament and the Federal Russian Space Agency. ACP, AFE, Bongard, Caripigiani, Edlund, Mareno, Scotsman, and Wexiödisk have sales distribution in Russia.)
Luding Group became the exclusive distributor in the Russian Federation of the Italian winery Allegrini, which was previously part of the MBG Wine portfolio.
No public statement found. (Subsidiary in Russia. Location expanded in Moscow for Gelato University in 2019.)
Many companies in group have Russia operations or partners.
In summer 2022, the military footwear manufacturer received 1.3 tons of cattle hide leather from Conceria Cervinia, based in Verona. Only from the beginning of 2023, the Russian company "Faraday" bought leather and other goods from the Italian company Conceria Cervinia Spa for 1.7 million dollars, the German company Jakob Keck Chemie Gmbh for 300 thousand dollars and Salamander Sps Gmbh & Co.Kg for 80 thousands of dollars.
Cunial Components supplies russian armed forces with shoes insoles.
Since February 24 the company has not commented on the exit from the russian market, as well as its parent company Megha Engineering and Infrastructures Limited (MEIL) and continues to sponsor the war in Ukraine.
Supplies the Russian armed forces with clothes parts. Faraday's soles also come from Italy, supplied by Suolificio Morrovallese. The company's plastic pads are Italian too, manufactured by Formificio Milanese Team.
The subsidiary LLC Russian Representation GE.MI POWER SOLUTIONS LLC continues its activities
Promised to suspend investments but still operating in Russia.
Hawai Italia supplies the russian armed forces with clothes rivets.
No public action found. (At least 5 dealership/service partner locations in Russia.)
In addition to the supply of planters in the amount of $9.6 million, the Italian Maschio Gaspardo in 10 months of 2023 sold in Russia disk harrows in the amount of $1.3 million (in the top 10 suppliers) and cultivators in the amount of $667.7 thousand. In Russia, the company has its own representative office of "Mascio-Gaspardo Russia" in the Volgograd region, to which address all the equipment from Italy was sent.
Continued sales through the distributor network and export of feed to Russia in 2022-2023.
The main supplier of equipment for Arctic LNG 2 in 2023 was the Italian Nuovo Pignone SRL (BH), which produces equipment for the energy industry. It sent products worth 41 million euros to the Russian Federation.
While some western retailers left the Russian market due to the military conflict between the Russian Federation and Ukraine, the Italian clothing chain OVS, on the contrary, decided to return to the country. The brand opens its first stores in another period of turbulence in the ruble exchange rate, although it was for this reason that it left the Russian Federation nine years ago.
No public announcement regarding Russian operations. (Stores and e-commerce in Russia)
Riva, the iconic brand in international yachting for over 178 years, has signed a new dealership agreement with Burevestnik Group to handle its operations on the Russian market on an exclusive basis.
The Russian market has been replenished with new brands.
Supplies the Russian armed forces with clothes parts. Faraday's soles also come from Italy, supplied by Suolificio Morrovallese.
As The Insider found out, Donobuv also supplies the armed forces with shoe glue and solvents (supplied by Jakob KECK Chemie GmbH) and leather (supplied by Salamander SPS GmbH & Co. KG) from Germany, while the soles are imported from Italy (Tacchificio Campiglionese).
The Italian Teddy Group has decided to develop a women's clothing chain of the Rinascimento brand in Russia.