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
Discontinued a number of its cigarette products and reduced manufacturing activity. Suspended marketing activities in the country. The company was working on options to exit the Russian market in an orderly manner. Philip Morris planned to leave Russia by the end of 2022 but later admits it may never sell its Russian business. NACP included Philip Morris International in the list of international sponsors of the war.
Promised to suspend investments, marketing and launch of new products. The company not excluded the possibility of a suspension of its manufacturing operations in Russia. But is still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$1.5bn or +26%). NACP included Japan Tobacco International in the list of international sponsors of the war. The Director of Corporate Affairs and Communications at Japan Tobacco International (JTI), Sergei Glushkov, informed journalists that the company has decided to maintain its business operations in Russia. According to him, JTI does not want to 'deprive consumers of the products they are accustomed to,' despite 'events of two years ago.
Chery is ready to organize the release of its cars in Russia. The Chinese car concern can start assembly at another Sollers plant or buy out the assembly facilities. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month. Significantly increased revenue in 2023 vs 2022 (more than 3x! times). The ex-Mercedes plant in Yesipovo near Moscow, which was transferred to Avtodom, will assemble premium cars from the Chery concern under a contract assembly agreement.
The company announced the suspension of the sale of Pepsi-Cola, 7Up and Mirinda (replacing them with Evervess and Frustyle). The company continued to produce other products in Russia. It also suspends capital investments and all advertising and promotional activities in Russia. In September 2022 PepsiCo Inc has stopped making Pepsi, 7UP and Mountain Dew in Russia nearly six months after the U.S. company said it would suspend sales and production after Moscow sent tens of thousands of troops into Ukraine. For 11 months, from the beginnig of the war, the company has not taken any visible steps to exit and continues to sell chips and dairy products in Russia. Still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$223mn or +5%). Profit volumes also significantly increased in 2022 vs 2021. The National Agency on Corruption Prevention (NACP) has included two leading food corporations, PepsiCo and Mars, on the list of international sponsors of the war. SAS is taking swift action and have already announced a boycott of Pepsi products due to their continued business in russia and financially fueling Russia's war. In 2024, the American company PepsiCo started the operation of the first phase of the factory of snacks and salty snacks in Russia, near Novosibirsk. Despite the war, the company has been operating in Russia for over 60 years, and opened a new plant with a production capacity of 60,000 tons per year. The American company PepsiCo wants to register the Rockstar trademark in Russia for the sale of beverages. The application was submitted to the agency on April 30, 2025 and PepsiCo is listed as the applicant. According to the documents, the company under this name wants to produce and sell various beverages in Russia: water, energy drinks, fruit juices.
Geely initially has suspended shipments of cars to dealers in Russia. But later, the head of Chinese car conglomerate Geely has defended a decision by the Geely auto brand to increase car sales in Russia after global rivals pulled out of the market following Vladimir Putin’s invasion of Ukraine. The Chinese car manufacturer Geely was included in the list of international sponsors of the war by NACP. Significantly increased revenue in 2023 vs 2022 (more than 2.4x! times). Revenue increased in 2024 vs 2023 by more than +50%.
Haval Motor remained on the Russian market. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month. Significantly (more than 3x! times) increased revenue in 2023 vs 2022.
The company promised to scale back the business and will refocus in feeding the Russian people and pets. "Any profits from the Russian business will be used for humanitarian causes. The company will not import or export the products. Factories and sales still operating in Russia". Still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$432mn or +20%). Mars last year announced the suspension of operations in Russia. However, some factories of the company continue to produce chocolate and other products. The Prosecutor's Office of the Moscow Region is investigating the Mars company due to possible financing of the Ukrainian Armed Forces. The National Agency on Corruption Prevention (NACP) has included two leading food corporations, PepsiCo and Mars, on the list of international sponsors of the war. Mars and Mondelez to raise prices on sweets in Russia.
The company is suspending KitKat and Nesquik, among other brands. It halted non-essential imports and exports into and out of Russia, stopped advertising, and suspended all capital investment in the country. Nestle doesn't expect to make a profit in the country or pay any related taxes for the foreseeable future in Russia, any profit will be donated to humanitarian relief organizations. On January 26, 2024 the Swiss company Nestle (brands Pro Plan, Purina One, Gourmet, Darling, Felix) warned suppliers about another increase in prices for cat and dog food starting in February.
The company keeps doing business in Russia as usual. The CEO of the Metro supermarket chain confirmed plans to continue business in Russia. The National Agency for Prevention of Corruption included Metro AG in the list of international war sponsors. Metro emphasized that they are maintaining operational activities in the country. The press service added that the priorities for 2023 are the strengthening of strategic business, expansion of the assortment, services and further digitalization. In addition, it is planned to "expand the geography of presence by opening stores under the "Fasol" franchise in new regions for the company." Slightly decreased revenue in 2023 vs 2022.
Changan remained on the Russian market. The Changan brand has reduced its model range presented in the Russian Federation from 17 to 14 cars. Crossovers CS35 Plus, CS55 and CS75 FL will cease to be sold in the country. The press service of the company explained that they will be replaced a little later by the next generations of updated cars. However, experts emphasize that the CS35 Plus crossover, which will no longer be sold in the country, was one of the most popular among Russians. Revenue increased in 2024 vs 2023 by more than +50%.
China's Great Wall Motor posts profit surge on Russia business. NACP included the Chinese car manufacturer Great Wall in the list of sponsors of the war. Significantly (2x! times) increased revenue in 2023 vs 2022.
Still operating in Russia. The German owner of the Globus group, Matthias Bruch, previously explained the company's stay in Russia by the need to take into account almost 10,000 Russian employees, as well as customers of large stores, for whom he wants to "preserve access to food products."
Haier itself has no plans to leave the Russian market. In the summer of 2022, Haier announced plans to expand the production of household appliances in Naberezhnye Chelny. The brand's fourth factory will be built here. The Chinese manufacturer of household appliances Haier intends to liquidate the factory of Candy household appliances in Kirov. Significantly increased revenue in 2023 vs 2022 (more than 1.5x! times).
The company discontinued all new capital investments in Russia and is suspending all media, advertising, and promotional activity. Product portfolio has been reduced to focus on basic health, hygiene and personal care items. Procter & Gamble Corporation was included in list of international war sponsors by the National Agency for Prevention of Corruption (NAPC) due to continuing presence in Russia. Received revenues in Russia in 2021-2023.
Ant Yapi holding operates in four countries - Russia, Turkey, Great Britain and the USA, earning most of its revenue in Russia. The group's companies took part in the construction of the Capital City and OKO towers in Moscow City, the Capital Towers residential complex and Terminal 2 at Domodedovo Airport. Increased revenue in 2023 vs 2022.
The company promised to stop new investments in Russia. It is continuing to work in Russia, and are taking all required measures to ensure an uninterrupted supply of medicines. Despite the statements of international pharmaceutical companies about the suspension of new tests in Russia after the start of military operations in Ukraine, the British-Swedish AstraZeneca will conduct a study of a new drug for the prevention of COVID-19 in the Russian Federation, which is necessary before its registration. AstraZeneca has spent about £45 million to pay Russian doctors since Moscow invaded and its chief said ‘medicines are never under sanctions’. AstraZeneca was the main sponsor of a major summit on bringing European businesses back to Russia - the 21st Association of European Businesses in Russia event. Revenue increased in 2024 vs 2023 by more than +30%.
Initially, the company promised to scale back all non-essential activities in Russia, discontinue all new capital investments and suspends advertising media spending. But later they announced: "We continue to evaluate the situation in Ukraine and Russia and our ability to control our operating activities and businesses on an ongoing basis, and we continue to consolidate both our Ukrainian and Russian subsidiaries. During the first quarter of 2022, Ukraine generated 0.3% and Russia generated 2.4% of consolidated net revenue and during the first quarter of 2023, Ukraine generated 0.4% and Russia generated 2.8% of consolidated net revenue". Significantly increased revenue in Russia from $1.016bn in 2021 to $1.463bn in 2022. Was included in the list of international war sponsors by NACP.
Still operating across 14 sites in Russia but promised to suspend new investments. Revenue and Net Income increased in 2022 vs 2021. Investing into Russia’s construction industry: Germany’s Knauf branded international sponsor of war by NACP. Knauf played an important role in the reconstruction of destroyed Mariupol. The German TV channel ARD and newspaper Tagesschau has revealed that German companies are helping the Russian occupying regime with construction works in the occupied city of Mariupol. In particular, they obtained photos showing a construction site with Knauf bags, whose official dealer publicly advertises that it has completed a residential building project using its construction materials for Russia's Defence Ministry. Knauf is a leader in gypsum production and has a long history of doing business in Russia. The company's founder, Nikolaus Knauf, served as Russia's honorary consul for over two decades. The German prosecutor's office is investigating reports of Knauf's participation in the restoration of Mariupol. After the scandal, the German manufacturer of building materials Knauf Group has decided to abandon its business in Russia and transfer it to local management. To complete the transaction, it is necessary to obtain approval from the Russian authorities. Knauf expects that the deal will save jobs for more than 4 thousand employees. The Würzburg prosecutor's office has launched an investigation into the German concern Knauf in connection with German media reports that the company's products are widely used in the reconstruction of Mariupol, which was destroyed by Russian troops and captured by them during the war against Ukraine. Knauf decided that they would transfer their company in Russia to management, paying the amount due to the budget to the budget. 15% of the valuation amount, but with an option - the ability to buy the business back within two years. The Rotenberg brothers want to buy the assets of the largest manufacturer of building materials Knauf that planned to leave Russia. Increased revenue in 2024 vs 2023.
The largest assets represented in Russia are the dairy product manufacturer Savushkin Product (brands Savushkin, Brest-Litovsk, Teos, Sveza and others), food manufacturer, primarily seafood, Santa Bremor (brands Santa Bremor, “Russian Sea”, “Mathias” and others) and the retail chain “Santa Retail” (more than 300 stores in Belarus). Increased revenue in 2023 vs 2022.
In 2022, the Turkish holding purchased the Russian assets of the American corporation Whirlpool (Whirlpool, Hotpoint and Indesit brands), including production in Lipetsk for the production of refrigerators and washing machines, for €220 million. Significantly increased revenue in 2023 vs 2022.
The company promised to stop any new spending not related to the supply of the essential and life-changing medicines and vaccines in Russia, as well as in Belarus. Increased revenue, profit and assets in Russia in 2022 vs 2021. Customs data shows that the latest deliveries were in 2023. Sanofi experiencing serious supply problems from its Russian plant to EU market.
Initially promised to suspend investment and technology deployment to its Russia operations. But the company increased its market share in Russia and is expanding. The National Agency for the Prevention of Corruption (NACP) has included the leading global oil company SLB (formerly Schlumberger), headquartered in the USA, on the list of international sponsors of the war. On July 14, 2023 SLB announced that it is halting shipments of products and technology into Russia from all SLB facilities worldwide in response to the continued expansion of international sanctions. SLB-based oilfield services provider SLB has said it has no current plans to end its operations in Russia despite the ongoing conflict with Ukraine and resulting Western pressure. The world's largest oilfield services company SLB is expanding in Russia after its main Western competitors exited the market in the wake of a full-scale invasion of Ukraine.
As of 8th of March stopped placing orders for concentrate in Russia and ceased investments in the market, not clear whether they leave or not. Stopped all production and sales of brands of The Coca-Cola Company in Russia, renamed company to Multon Partners, will focus on the production and sale of existing local brands; intend to have a much smaller operation in Russia. The Swiss-Greek Coca-Cola HBC, despite the promise to support the implementation of the decision of the American Coca-Cola Company and statements in support of Ukraine, is leaving Russia and not gathering. But she lost the opportunity to bottle and sell drinks under the Coca-Cola brand - at least legally. In August 2022, Coca-Cola HBC announced that it had sold the last old stocks of original Coca-Cola and would now develop its Russian business "on a much smaller scale" under the new name - "Multon Partners" (that was the name of the Russian juice company, which Coca- Cola HBC bought in 2005). "Multon Partners" will focus on the production and sale of local brands "Dobry", Rich and "My Family", it was said in the release - and it was emphasized that the raw materials will be exclusively local, that is, The Coca-Cola Company will not supply concentrates for beverages. Coca-Cola is preparing to return to Russia: The company is already discussing a strategy for working with domestic competitors and combating parallel imports.
The Swiss-Greek Coca-Cola HBC, despite the promise to support the implementation of the decision of the American Coca-Cola Company and statements in support of Ukraine, is leaving Russia and not gathering. But she lost the opportunity to bottle and sell drinks under the Coca-Cola brand - at least legally. In August 2022, Coca-Cola HBC announced that it had sold the last old stocks of original Coca-Cola and would now develop its Russian business "on a much smaller scale" under the new name - "Multon Partners" (that was the name of the Russian juice company, which Coca- Cola HBC bought in 2005). "Multon Partners" will focus on the production and sale of local brands "Dobry", Rich and "My Family", it was said in the release - and it was emphasized that the raw materials will be exclusively local, that is, The Coca-Cola Company will not supply concentrates for beverages.
CP Foods is one of the top 10 producers of broiler meat and pork meat in Russia. Thai CP Foods (#44) is a major investor in Russian agriculture. In 2015, the holding bought the company Severnaya Poultry for $680 million, and in 2021 - the Don agricultural producer of pork for 22 billion rubles.
Received revenues in Russia in 2021-2023.
The company is temporarily closing its stores in Russia and suspending investments in the country. There are no statements about its Russian plant. In Russia, the Group has temporarily closed all its own stores and e-commerce sites and suspended all industrial and media investments. In accordance with European and American sanctions, L'Oreal promised to suspend the sales of all products except essential daily products. The share in sales through own websites is minimal. After the suspension, L'Oreal increased cooperation with other sites, including sanctioned ones. The company officially works in Crimea. Advertising expenses were not stopped - all investments were suspended for only 2-3 months. Now everything has been restored and even increased. The delivery of goods through Turkey and Kazakhstan was arranged. L'Oréal announced on November 26, 2023 that its factory in Kaluga, central Russia, within the group, is maintaining its operations in Russia to avoid a takeover by local authorities. L'Oreal rented a new office in the business center "AFI Gallery" in the center of Moscow.
Still operating in Russia. Significantly increased revenue in 2023 vs 2022.
Kinross divests Russian assets to Highland Gold at half the set amount. Highland Gold structures of Vladislav Sviblov can increase investments in gold mining in the Trans-Baikal Territory. This follows from the draft government decree published by the Ministry of Eastern Development in June, which provides for the expansion of the area of the Transbaikalia ASEZ for potential residents. Thus, it follows from the draft resolution that Talatuiskoye LLC, a member of Highland Gold, plans to implement a project from 2024 to 2042 to develop the Darasun deposit and build a gold extraction plant with a capacity of 200 thousand tons of ore per year. Revenue increased in 2024 vs 2023 by more than +100%.
Initially 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%.
Still operating in Russia. Paid $42 mn of taxes in 2022.
JAC Motors remained on the Russian market. There are already eight brands from China in the top ten best-selling new cars in Russia at the end of 2023. Or even nine - depending on how you consider Moskvich: it is produced in Moscow and is considered Russian, but copies of Chinese JAC JS crossovers come off the assembly line under this name. Each of the top three Chinese brands in sales - Haval, Geely and Chery - sells more than 10,000 cars per month.
Received revenues in Russia in 2021-2023.
Prpmised to suspend investments but continues sales and plant operations in Russia. Received revenues in Russia in 2021-2023.
Azerbaijan's SOCAR halts Russian crude supplies to Turkish refinery. Private Russian oil producer Lukoil will lend Azeri state oil firm Socar $1.5 billion as part of a broader deal that will allow Socar's 200,000-barrel-per-day Turkish STAR refinery to process Russian crude again. 28.09.2023: The secondary legal entity (LLC "CHERNOMORSERVIS") was liquidated but the key one (LLC "SOCAR RUS") is doing business as usual. At the end of August 2024, Russia (Gazprom) and Azerbaijan (SOCAR) agreed to develop gas cooperation and expand strategic partnership, but specific projects have not been announced yet. Among the public procurement tenders, the company has such customers as the Russian Guard and Russian military units. Slovakia's Slovensky Plynarensky Priemysel (SPP) is in talks with Azerbaijan's state oil company SOCAR on gas purchases.
The Russian subsidiary is operating in compliance with the international sanctions. The company is winding down corporate lending. OTP Bank Plc. does not provide financing to its subsidiary in Russia (not verified + reinvesting profit is also a financing). OTP Bank has suspended transfers in US dollars. But the bank offers to convert dollars into euros for the transfer. The National Agency for the Prevention of Corruption (NACP) added the Hungarian OTP Bank to the list of war sponsors. At the end of September 2023 NACP suspended OTP Bank from the list of international sponsors of war while negotiations are underway. OTP Bank is in communication with the national agency and the European Commission in the process of implementing the exit plan from the Russian Federation. The subsidiary bank of the Hungarian OTP in Russia has increased profits by 150 times and is expanding its business. Russian companies have begun to move en masse to the Hungarian OTP Bank from the Austrian Raiffeisenbank after the latter introduced new restrictions on currency transfers on September 2, 2024. Hungary's biggest bank, OTP Bank, boosted its business with Russia last year, helping to bolster its profits, as rival European lenders came under increasing pressure to pare back their ties with Moscow due to its war in Ukraine.
Still operating in Russia through subsidiaries. Only 1 out of 5 companies was sold, and the owner was also from the Netherlands, could be internal transfer. 05.2023: TRAKYA INVESTMENT B.V. LIMITED CLOSED JOINT STOCK COMPANY becomes the new founder of the organization (JSC "SISEСAM AUTOMOTIVE RUS"). NACP included the Turkish glass manufacturer Sisecam in the list of international sponsors of the war.
5,3% of revenue from Russia or approx, $500MM. Westinghouse will supply nuclear fuel for Russian-designed reactors in Slovakia.
Teva in Russia is working in its standard operating mode
No official statement
The company has a subsidiary in Russia and also, before the war has started, Ehrmann expanded in Russia by acquiring FrieslandCampina’s dairy business. Continue sales in Russia but promised to suspend new investments.
LG Electronics is suspending all shipments to Russia and will continue to keep a close watch on the situation as it unfolds. The management of the South Korean LG is discussing the possibility of closing the plant in Russia (it produces refrigerators, washing machines and televisions) and transferring production to Uzbekistan at the Artel facility. The Polish plant of the South Korean LG began to install Smart TV software adapted for the Russian market on the TVs it produces. Russian online cinemas are pre-installed on the devices supplied by parallel import and there is support for the voice assistant "Alice". Significantly decreased revenue in 2023 vs 2022. Home appliance manufacturer LG has relaunched its application for viewing LG Channels TV channels in Russia. Previously, the Ukrainian Megogo was responsible for developing the application of the South Korean brand, but after February 2022 the company stopped supporting it in the Russian Federation. The new application was presented by the LG development center in St. Petersburg. This is not the first time that a Korean company has shown interest in the Russian market, to which it has not officially supplied products for three years. According to Russian media reports on September 12, 2024, LG, which has withdrawn from the Russian market, has recently applied to register a trademark for cosmetics in Russia. LG Electronics Inc. has resumed work at its home appliance plant in Russia amid prospects for a ceasefire between Russia and Ukraine, marking the return of South Korean companies to the market after nearly three years.
Continuing business operations in Russia (4 locations). Canceled €200 million expansion investment. The Rockwool company earned millions of Krons on orders from the Russian Ministry of Defense. Among other things, Rockwool products are part of a warship that participated in the war against Ukraine last year. An official partner and distributor of Rockwool supplied materials to the Russian Navy for use in the construction of three advanced frigates. Still, the Danish stone wool giant vehemently denies having any customer relationship with Russia’s military. Since the annexation of Crimea in 2014, Rockwool has systematically sold ship insulation that has ended up in at least 31 vessels in the Russian navy. Ukraine’s anti-corruption agency has branded Danish insulation giant Rockwool an “international sponsor of war” for continuing to supply its construction materials via intermediaries to various Russian state institutions, including the Ministry of Defense.
Received revenues in Russia in 2022.
Still operating in Russia. In October 2022, another Austrian company of the EGGER group, known for the production of wood products, founded a company in the Ivanovo region of Russia — WOODPRODUCT VOSTOK ASSET MANAGEMENT LLC.
No official statement
(Office in Russia)
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.
London-listed information technology firm Softline said, it would sell its Russian business to its founder Igor Borovikov or an entity controlled by him. Softline system integrator is negotiating the purchase of Forward Leasing (Forward Leasing LLC), which provides a “subscription” service for smartphones and other user devices, including laptops, in the leasing format – a buyout with a low monthly payment and the ability to exchange a device for a new one. until the entire amount is paid. 08.2023: Authorized capital increased from 100,000 rubles to 120,000 rubles | Kichko Dmitry Vladimirovich becomes the new founder of the organization. Russian part of the group was sold to the ZPIF of Tethys Capital Management Company. The government subcommittee did not approve the deal for the acquisition of a stake in Mosbirzha by the Softline group of companies from the European Bank for Reconstruction and Development (EBRD). Russian software firm Softline expects to grow 36% in 2025.
Business as usual
No official statement
Will continue to supply essential medicines, vaccines, medical devices, and equipment in Russia. Halted clinical trials, advertising, and promotion. Russian sales proceeds to go to humanitarian aid (no manufacturing and little raw materia/suply chain reliance). Still operating in Russia with increasing sales and profit volumes in 2022 vs 2021. After the start of Russia's war against Ukraine, the volume of product exports to Russia increased.
Promised to suspend all further investments. Heidelberg Materials as a global company strongly condemns this war against the Ukrainian people. "We fully support all sanctions on Russia and immediately stopped all investments almost one year ago. We operate a pure local business in Russia, on a limited scale and only for local needs. We ensure that our reduced activities in Russia are fully compliant with international and other laws as well as with international human rights standards." Increased revenue in 2022 vs 2021. Heidelberg's website until summer 2023 contained information of their plants and terminals in Kaliningrad and Murmansk. Company produces concrete, which could be important for military industry as well.
Suspend capital investment. Barry Callebaut, which also has three factories in Russia. The company claims to provide essential goods, "chocolate is part of the daily diet of many". It has a certain sound of "Qu'ils mangent de la brioche" (even if the saying predates Marie Antoinette). If we compare total exports for the year starting March 1, 2022, with the year before, the value has more than doubled ($70.9 million vs. $29 million), or 145% to be exact. The Swiss chocolate manufacturer Barry Callebaut is included in the list of sponsors of the war in Ukraine. As NAZK emphasizes, Barry Callebaut remained working in Russia, using manipulative statements about the supply of primary necessities to the Russian Federation and asserting that "chocolate is part of the daily diet of many".
Promised to suspend new investments and technology-deployments in Russia. Halted all shipments (no joint ventures or partners in Russia). The Russian branch of the international oil service company Weatherford intends to continue to fulfill existing contracts and conclude new agreements with customers. This follows from the reports of Weatherford's Russian structures, including "Weatherford" LLC, which accounts for the bulk of the company's revenues in the Russian Federation.
Still operating in Russia
Received revenues in Russia in 2021-2024, there is no any official announcement. Increased assets from $1.8bn in 2021 to $2.4bn in 2022. Credit Europe Bank (Russia) has secured special permission from Russian President Vladimir Putin to acquire a 100% stake in Ikano Bank. Revenue increased in 2024 vs 2023 by more than +30%.
The 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 official statement
Still working with dealers and has its own entity in Russia.
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.
Have decided to suspend any investment in Russia as well as commercial marketing activities. The company did not stop working in Russia. The Russian website is working. In October 2023, the general director was changed. Staff are being recruited.
Continue to supply patients, not for fianacial reasons
The company decided to continue doing business in Russia, citing the lack of bans from France and the EU. The Bonduelle company, which continues to work in the Russian Federation, supported the Russian military. Scaled back operation in Russia. Manufacturer of canned and frozen vegetables Bonduelle registers a trademark with the name in Cyrillic at Rospatent. The company said that products with the new label will appear “in the near future.”
Still operating in Russia. Lactalis and Savencia maintain their positions in Russia, although they are attracting the attention of local players looking to capitalize on their presence in the market. The Lactalis company, which has been operating in Russia since 2003 and has four production facilities, has attracted the interest of Sergey Bachin, a well-known Russian businessman who heads the Agranta group of companies. Despite this interest, both Lactalis and Savencia have yet to show any intention to abandon their Russian operations, demonstrating their unwavering commitment to the market amid current events. The company's four subsidiaries, producing dairy products under the President, Galbani, Parmalat, and Bely Gorod brands, received a total of 43 billion rubles in revenue in 2023, and profits exceeded 3 billion rubles.
Promised to suspend exports to Russia & halt investments but sales are ongoing at full range, official statement is misleading and total lie. Website https://www.karcher.ru/ru/ appears to be fully functional to buy Kärcher products in Russia.
Significantly increased revenue, profit and taxes paid in Russia in 2022 vs 2021. Revenue increased in 2024 vs 2023 by more than +30%.
Initially ceased financing of deals involving Russian commodities. The largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times. Bank of China restricts Russian transfers of yuan to E.U., U.S. Bank of China (BoC) significantly increases its capital, assets and Net profit in Russia in 2022 vs 2021. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation. Without waiting for the expiration of its license, Bank of China, one of the largest Chinese banks, which acted as a clearing agent, that is, de facto carried out all yuan transactions, refused to work with the Moscow Exchange.
Continue doing business as usual.
Suspend $500M new investment and significant operations and partnerships. China's top refiners PetroChina and Sinopec are resuming purchases of discounted Russian crude after a brief pause in late 2022, just before the European Union embargo on Russian oil started. NACP adds the three largest Chinese oil and gas companies to the list of international sponsors of war. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. The company has stopped buying Russian oil as it conducts additional checks to ensure compliance with sanctions requirements and awaits a "clear picture" of a future Russian-American agreement to end the war in Ukraine. The company noted that it will resume supplies if the negotiations lead to the weakening or lifting of US sanctions on Russian oil, the source added on condition of anonymity. One of China's largest crude oil buyers, Sinopec Shanghai Petrochemical, cut purchases from Russia in the first quarter after more than doubling in 2024. Sinopec, a leading Asian refiner, resumed purchases of Russian oil after a brief pause in March 2025 to assess risks from sanctions imposed by the United States on Russian companies. Revenue increased in 2024 vs 2023 by more than +100%.
Received revenues in Russia in 2021, there is no any official announcement
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.
Company was originally founded in St. Petersburg, over $60 milllion exports to Russia after February 24, 2022. In 2022 $28 million exports to Russia, or 28% of that year revenue. Increased revenue and profit in 2022 vs 2021.
Continue operating subsidiary in Russia but limited some activities. Revenue increased in 2024 vs 2023 by more than +50%.
AbbVie has temporarily suspended operations for the aesthetics products in Russia and paused the start of new clinical studies. Other operations are continued. Revenue increased in 2024 vs 2023 by more than +50%.
Continues flows to Russian and Ukrainian producers but suspends its project to build a seed factory in Russia. The company also produces sunflower and corn seeds that are critically important for the Russian market. Its revenue in 2023 was 14.4 billion rubles, and its profit was 1.6 billion. The growth compared to 2022 is 2 and 4 times, respectively. This is a colossal pace.
No official statement
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue increased in 2024 vs 2023 by more than +30%.
No relevant news about leaving Russia.
Continue candy sales in Russia. No statement seems to be available, and the Russian Website boasts "Storck products are convincing consumer across Russia from Kaliningrad to Vladivostok!" Comparing total export for a year starting on March 1, 2022 vs. a year before by value, the increase is "only" 51% (96 million USD vs. 64 million USD). Slightly increasing the market share of exported chocolate from 12.9% to 13.7%.
The business of Reebok in the Russian Federation was transferred to the Turkish FLO Retailing. Significantly increased revenue (+568% in 2023 vs 2022) and staff in Russia (696 in 2023 vs 200 in 2022).
Received revenues in Russia in 2021, there is no any official announcement
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%.
Chinese investors, including Midea and Hisense, are interested in the acquisition of Russian Bosch plants. The largest Iranian manufacturer of household appliances, Entekhab Group, is negotiating the purchase of a refrigerator plant of the major Chinese brand Midea in Tatarstan.
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.
German pharmaceutical company Bionorica put up for sale an unfinished plant in Voronezh. The fact that the German pharmaceutical company Bionorica began looking for buyers for its plant for the production of drugs in Voronezh, was told by a source close to the company that was considering the acquisition of this enterprise. According to him, the decision to sell is related to the sanctions restrictions imposed by the European Union on Russia, as a result of which the import of foreign raw materials and special equipment necessary for the production of medicines into Russia has become impossible. Nevertheless, Bionorica is still operating in Russia with a Hufe Sales team, importing pharmaceuticals from the German headquarter. Revenue increased in 2024 vs 2023 by more than +100%.
Still operating in Russia
Received revenues in Russia in 2021-2022, there is no any official announcement. In March 2024, a statement appeared on the company's website that since the beginning of the war in early 2022, the company has significantly reduced its operations in Russia and strictly fenced off its Russian subsidiary from wider business. But the revenue for 2023 increased and the company did not fulfill the promise.
The revenue of Hikvision, the Russian office of the world's largest Chinese manufacturer of video surveillance solutions, grew by 42% in 2022 to 10.9 billion rubles. Included in the list of international war sponsors by NACP. The company received almost $150 million of revenue in 2023 and has not gone anywhere, its support service in Russia works normally at the number +7(800)500-00-88 or via Support.ru@hikvision.com
Keep Russia office; stop exports to Russia. Revenue increased in 2024 vs 2023 by more than +30%.
Curtail Russian access to capital markets. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation.
Received revenues in Russia in 2021-2024, there is no any official announcement. 23.05.2023: One of the three legal entities (CENTER SUNRISE) was liquidated. Revenue increased in 2024 vs 2023 by more than +30%.
Still operating in Russia.
Russian website works
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. Revenue increased in 2024 vs 2023 by more than +30%.
Stop shipments to and from Russia; no comment about production in Russia. Wilo SE continues to operate the factory in Russia and supplying factory with all technological components both from Germany and China. Wilo SE has own subsidiary in Russia and running it without any limits - supplied by trade goods from own factory in russia and own plants in Germany. Currently Wilo is benefiting from withdrawal of the key competitors from the russian market like Grundfos and growing the business in this country comparing with pre-war situation.
Received revenues in Russia in 2021, there is not any official announcement.
No official statement
No official statement
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Lesaffre continues its activities. On April 28, 2022, a webinar on how to bake bread will take place in Moscow.
Received revenues in Russia in 2022-2024. Revenues in foreign currency fell slightly in 2023 compared to 2022, mainly due to devaluation, but even increased in rubles. The owners have not changed as of the end of June 2024. Revenue increased in 2024 vs 2023 by more than +30%.
No official statement
Not disclosed publicly; still operating in Russia
Business as usual
Received revenues in Russia in 2021, there is no any official announcement
No official statement
Received revenues in Russia in 2021, there is no any official announcement
No official statement
MSC retains a considerable presence in the Russian trades with feeder operations in all three Russian gateways while the other key European carriers have withdrawn completely from the market. Revenue increased in 2024 vs 2023 by more than +50%.
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.
Received revenues in Russia in 2021-2024, there is no any official announcement. Revenue increased in 2024 vs 2023 by more than +30%.
Still operates in Russia. Lactalis and Savencia maintain their positions in Russia, although they are attracting the attention of local players looking to capitalize on their presence in the market. The Lactalis company, which has been operating in Russia since 2003 and has four production facilities, has attracted the interest of Sergey Bachin, a well-known Russian businessman who heads the Agranta group of companies. Despite this interest, both Lactalis and Savencia have yet to show any intention to abandon their Russian operations, demonstrating their unwavering commitment to the market amid current events.
Received revenues in Russia in 2021, there is no any official announcement
Continue doing business as usual.
No statement made regarding operations in Russia, Operates Stores in 25 Russia cities, including Moscow. In the 12 months to April 2024, LC Waikiki opened 28 stores. Currently, there are 37 points of sale of this chain in the Russian Federation, as indicated on its website. LC Waikiki opened on the site of the departed Swedish H&M in the Mega shopping centers in Ufa and Omsk.
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.