One company after another is turning its back on Russia, but until when? †

One company after another is turning its back on Russia, but until when?  †

Shipbuilder Damen Shipyards no longer supplies ships to Russia, fashion brands Zara, Pull&Bear and Bershka close more than 500 Russian branches and the Paypal payment service is no longer available in Russia. These are the latest additions to a long list of company names that have partially or completely severed ties with Russia.

In the meantime, dozens of companies such as Heineken, the brewer that no longer exports beer to Russia and no longer makes new investments, have announced that they will partially withdraw from the country. The company’s Russian breweries will continue to exist. Or Shell, which announced earlier this week that it would sell its investments in Russia, and Samsung and Apple, which no longer want to supply products.

“The impact is enormous,” says Jeroen Ketting. He is an entrepreneur and helps other Dutch entrepreneurs to do business in Russia. “With the exception of food, almost all value-added products are imported by Russia. Since the sanctions of 2014, Russia has been largely self-sufficient in food, but certainly not technologically.

reliability

Some companies, such as Shell, which describe the war in Ukraine as a senseless act of military aggression, have spoken out. Others say it is impractical to trade with Russia now, for example because of sanctions. “Moving money, people and goods is extremely difficult,” says Ketting.

Source: NOS

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