WESTERN COMPANIES STAYING IN RUSSIA

  1. Accor: 55 locations in Russia
  2. Air Liquide: 18 industrial plants and 700 employees
  3. Air Products: 2 offices, 130 staff and a plant in the Rostov region
  4. Asus:
  5. Auchan: $ 3.5 billion in revenue from Russia
  6. Authentic Brands Group- Reebok
  7. Baker Hughes: Russian partnerships
  8. Baker Tilley: Subsidiary with 400 employees in Russia
  9. BBDO: Clients include Rosbank
  10. Bosch: At least $ 1.3 billion of revenue from Russia
  11. Cargill: Continuing essentials, $ 1.1 bn investment, 2,500 staff

WESTERN COMPANIES WITHDRAWAL FROM RUSSIA

Since the invasion of Ukraine began, 400 companies have announced their withdrawal from Russia but some companies have continued to operate in Russia undeterred. 

1)147 companies have completely halted Russian engagements

2) 173 companies have companies have temporarily curtailed operations while keeping return options open 

3) 70 companies have scaled back some but not all operations, or delayed  investments 

4) 37 companies are defying demands for exit/reduction of activities 

 

THE PLIGHT OF THE UKRAINIAN ECONOMY

  1. More than half of Ukraine’s economy has shut down and infrastructure assets worth U.S. $100bn have been destroyed since Russia launched its invasion of the country
  2. Currently around 50 per cent of businesses are not operating and the rest are not operating at full capacity
  3. Even if hostilities were to end right now, the recovery and reconstruction costs are already massive

SHARE OF RUSSIAN GAS IMPORTS IN EUROPE

 SHARE OF RUSSIAN GAS IMPORTS IN EUROPE

RECOMMENDED STEPS BY TRANSPARENCY INTERNATIONAL EU

Author: Roland Papp

EU SANCTIONS ON RUSSIAN AVIATION

On 26 February 2022, in response to Russia's invasion of Ukraine, Regulation (EU) 2022/328 of 25 February 2022 (the Regulation) came into force. The Regulation introduces broad new sanctions on Russian airlines, the Russian aviation sector (including aviation insurance) and certain related activities, entities and persons. 

Irish lessors and all other EU-based lessors (Lessors) are directly affected by the Regulation – as are all other EU persons and entities, such as EU-based insurers and MROs. 

STOP THE MONSTER !

Military attacks cannot be stopped by UN resolutions. Military attacks cannot be stopped by so-called diplomacy. Sadly, the response of the Western liberal democracies falls short of what is clearly required to stop the monster of Moscow from achieving his goal of taking over Ukraine and returning it to domination by Russia. Diplomacy, while important will not solve the problem. Setting up facilities to handle the over 2.5 million refugees who have fled the country is important, but will not solve the problem.

HONOURING THE JOURNALISTS WHO BRING STORIES FROM THE FRONTLINE IN UKRAINE

The first war correspondents were actually soldiers sending dispatches back home from the front lines, reporting from inside the war zone. The 19th century saw the first professional reporters taking on the job, and eventually soldiers were no longer permitted to act as both fighter and reporter. Women entered the profession in the early 20th century, often bucking official prohibitions against their participation. The Vietnam War was the first war to be truly televised, in nearly real time, as opposed to the edited reels shown to drum up morale at home during World War II.

WHAT ABOUT THE SPLITTING OF UKRAINE INTO TWO ?

The western and northern half of the country has a strong Ukrainian cultural identity, mostly Ukrainian-speaking, with nationalist and pro-Western leanings. The eastern and southern half of the country on the other hand is culturally strongly Russified, largely Russian-speaking, with pro-Russian candidates having regularly won elections in this half of the country before 2014.

SUMMARY OF SANCTIONS TARGETING RUSSIA

Source: Winston & Strawn LLP

The EU has issued five packages of sanctions or restrictive measures on February 23, 25, 28, March 2, and March 9, respectively. The March 9 package also includes additional sanctions on Belarusian entities, specifically adding three banks to the SWIFT restrictions on Russian financial institutions.       

First Package imposing additional transferable securities and money-market instruments restrictions and prohibiting new loans or credits.

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