Sanctions against Russia
January 2023
- 02.01.2023GTT (Construction)Withdrawal of investments from russia
After an in-depth analysis of European sanctions packages No. 8 and 9, which in particular prohibit engineering services with Russian companies, Gaztransport & Technigaz (GTT) announces the termination of its activities in Russia.
GTT
- 03.01.2023Euroins (EIG) (Insurance)Withdrawal of investments from russia
Bulgarian insurance group Euroins Insurance Group (EIG), which is part of Eurohold Bulgaria, said it has agreed to sell its subsidiary in Belarus and 48.61% of its Russian business as part of its strategy to focus only on key markets with a positive growth outlook.
See News
- 05.01.2023Taiwan, ChinaRestrictions on sale of goods in russia
Taiwan's Ministry of Economy announced the expansion of sanctions against Russia and Belarus to prevent the two countries from using high-tech Taiwanese products for military purposes after a full-scale invasion of Ukraine. As emphasized in the statement, among the chemical products banned for export to the Russian Federation and Belarus are ricin, conotoxin, botulinum toxin, nitrogen trifluoride, ammonium nitrate, tributyl phosphate and nitric acid, as well as stainless steel No. 304 and No. 316. Expanded sanctions also cover machine-building products .
Focus Taiwan
- 17.01.2023Wintershall Dea AG (Oil and gas mining)Withdrawal of investments from russia
Wintershall Dea, the largest German gas and oil company, announced its exit from the Russian market. "Wintershall Dea will stop its activities in Russia. Continuation of activities in Russia is unacceptable. Russia's aggressive war in Ukraine is incompatible with our values and has destroyed cooperation between Russia and Europe. In recent months, restrictions imposed by the Russian government on the activities of Western companies in the country and external interference in the work of our joint ventures have made it impossible for Wintershall Dea to work in Russia, as before, and led to the economic expropriation of joint ventures in Russia," said CEO Mario Mehren.
Wintershall Dea
- 17.01.2023Wintershall Dea AG (Oil and gas mining)Withdrawal of investments from russia
The supervisory board of Wintershall Dea approved the board's decision in principle to withdraw from Russia.
Wintershall Dea
- 19.01.2023BASF SE (Chemical industry)Withdrawal of investments from russia
BASF investors said the exit of oil and gas business Wintershall Dea from Russia, while painful, clears the way for plans to take it public and for BASF to focus on its chemicals operations.
Reuters
- 20.01.2023Compass Mining (Cryptocurrency)Restrictions on the provision of services in russia
Compass Mining severed ties with Russian hosting provider Bit River and did not return Bitcoin mining equipment to its customers. The company claimed the reason for its action as a non-applicable sanction issued by the United States of America. Directly as a result of this, Compass Mining customers have filed lawsuits against the company, alleging that it engaged in deceptive business practices in an attempt to recover more than $2 million.
Prominent Crypto
- 21.01.2023Canara Bank (Banking)Withdrawal of investments from russia
Canara Bank has entered into a share sale agreement for the sale of shares it owns in Moscow-based CIBL with SBI, the bank said in an official statement.
Business Today
- 21.01.2023FranceRestrictions on the russian media
The French-language department of the Russian propaganda channel RT France has ceased operations due to the freezing of its bank accounts. "After 5 years of efforts, the authorities have achieved their goal: the closure of RT France. Under the guise of the 9th package of sanctions against Russia, which is not directed against our channel, but against our shareholder and parent company, the General Directorate of the Treasury decided to freeze the bank accounts of RT France, which makes it impossible to continue our activities," the message reads.
RT France
- 23.01.2023Hamleys (Clothing, shoes and accessories)Suspension of investment in russia
The British chain of children's goods stores Hamleys could not cope with financial difficulties and competition with other players in the segment on the Russian market. Now the franchisee of the brand in the Russian Federation — Oleksandr Mamut's "Wanderkind" company — will rename the points of sale to "Vinny" and will supplement the assortment with clothes and shoes.
KSE
- 23.01.2023EstoniaExpulsion of russian diplomats
Estonia expels the Russian ambassador and promises to continue supporting Ukraine. The ambassador of the Russian Federation in Estonia must leave the country next month after the level of diplomatic relations between the countries has decreased. "Estonia took into account Russia's decision to lower the level of diplomatic relations to the level of temporary proxies. Estonia is guided by the principle of parity in relations with Russia and will insist on this. This means that the Russian ambassador in Tallinn must leave the country on February 7 – the same day as the Estonian ambassador in Russia," Reinsalu said.
Ministry of Foreign Affairs (Estonia)
- 24.01.2023International Paper (Packaging products)Withdrawal of investments from russia
International Paper Strikes Deal to Divest Russian Pulp Business. Russian partners in venture will pay more than $500 million to buy out the U.S. company. IP said it would sell its 50% stake in Ilim Group to its Russian partners in the joint venture for $484 million. IP executives said they would exit Russia soon after war broke out, but it has taken them nearly a year to disentangle the American forest-products company from its Russian interests.
The Wall Street Journal
- 25.01.2023Legrand (Equipment)Withdrawal of investments from russia
The French electronics company Legrand has decided to withdraw from Russia. The official statement is published on the company's website.
Legrand
- 25.01.2023SwitzerlandEconomic restrictions
The Swiss Federal Council decided to introduce new sanctions against Russia, synchronizing them with the 9th package of restrictive measures against Moscow, which were introduced by the European Union. The sanctions include bans on product testing, advertising, market research and opinion polling services, as well as new controls and restrictions on the export of various goods, including dual-use goods, goods for military and technological improvement or for the development of the sector defense and security, or goods that contribute to the strengthening of Russia's industrial potential. In addition, the ban on exports of aerospace products will be extended to aircraft and drone engines. New investments in Russia's mining sector will also be banned.
The Federal Council (Switzerland)
- 25.01.2023International Skating Union (Sport)Restrictions on russian sports
Russia was deprived of the right to hold the Grand Prix of figure skating, — Ministry of Sport. The International Skating Union (ISU) took away from Russia the right to hold the stage of the Grand Prix of figure skating in the 2023/24 season.
Комітет Верховної Ради України з питань молоді і спорту
- 27.01.2023Council of Europe (Political associations)Economic restrictions
The Council of the EU on Friday decided to extend for six months, until July 31, 2023, restrictive measures directed against certain sectors of the Russian economy. It is noted that these sanctions, first introduced in 2014 in response to Russia's destabilizing actions in Ukraine, have been significantly expanded since February 2022 due to Russia's unprovoked and unjustified military aggression against Ukraine.
Council of the EU
