French company Adeo, the owner of retailer Leroy Merlin, announced [https://www.adeo.com/en/news/adeo-announces-its-intention-to-transfer-control-of-leroy-merlin-russia-to-the-local-management/] its plans to transfer the control over Leroy Merlin Russia to the local management. > "After more than 18 years of activity in Russia, transferring control of Leroy Merlin to the local
Foreign importers, who are the main suppliers of parallel import equipment, might soon begin to refuse to cooperate with Russian distributors, Izvestia writes. This will lead to a significant increase in the cost of equipment and its deficit. The reason for this is the new U.S. sanctions that impose
The United States have expanded export restrictions on Russia, according to a report [https://sanctionsnews.bakermckenzie.com/us-government-imposes-new-sanctions-export-controls-and-tariffs-targeting-russia-and-belarus-to-mark-one-year-anniversary/] from the U.S. Department of Commerce. Restrictions apply to goods made in the United States, but any product in which American technology or components account for 25% is considered as such.
The total amount of assets of Russian individuals and legal entities frozen in Belgium over the past year since the beginning of a full-scale invasion of Ukraine by Russia is 58 billion euros. This is noted in the statement [https://vanpeteghem.belgium.be/nl/1-jaar-sancties-tegen-rusland-58-miljard-euro-bevroren-en-tienduizenden-containers-gecontroleerd] of the Belgian Minister of
Representatives of the United States of America and the European Union discussed the imposition of sanctions on Russia’s diamond industry during a meeting with the heads of leading diamond companies. This was stated [https://www.state.gov/state-department-and-european-commission-engage-diamond-industry-to-discuss-next-steps-on-russian-diamonds/] on the official website of the US Department of State. Specifically,
Popular German tire and automotive parts manufacturer Continental AG is closing its Russian business, CEO Nikolai Setzer announced. According to him, the last year brought many challenges to the company caused by the growth of prices for raw materials, energy, and logistics. However, the main reason for this decision is
A Mediascope study cited by Vedomosti said that Instagram’s average daily reach over the year was five times less than that in February 2022: back then, the figure was not 6%, but 31%. This figure for the same period went down 3.5 times for Facebook – from 7% in
One of the leading tire manufacturers in the world, French Michelin Group, has found a buyer for the plant in Davydovo in the Moscow region, which has been idle since the beginning of full-scale war. It was reported by Kommersant, citing sources. The asset will reportedly be bought by the
Binance has closed the purchase and sale of dollars and euros via its peer-to-peer service for citizens of Russia. The restrictions are being imposed in line with the EU’s 10th package of sanctions against Russia. EU citizens, for their part, were banned from conducting transactions in roubles via the
Japanese industrial equipment manufacturer Yanmar Holdings is ceasing operations in Russia, the company said in a statement [https://www.yanmar.com/global/news/2023/03/08/121416.html]. > “The Yanmar Group will cease all operations at our local subsidiary, Yanmar RUS LLC, as soon as procedures are completed. The
Apple service center Fixed.One reported that the warranty service for MacBooks and iPads in Russia was terminated. The service claims that Apple sent a letter to all its authorized centers, which states that it stops servicing its equipment in Russia. Apple's decision does not apply to the
The German company Henkel AG presented its financial statements [https://www.henkel.com/press-and-media/press-releases-and-kits/2023-03-07-henkel-delivers-significant-sales-increase-in-2022-poised-for-further-growth-in-fiscal-2023-1807140] for 2022 and announced its intention to completely withdraw from Russia. The report says that the business activities in Russia are expected to be divested by the end of the first quarter of 2023.
The beer giant Carlsberg plans to sell its Russian business by the beginning of the summer. News about the Danish Carlsberg Group planning to sell its Russian assets by the end of spring was announced in a report [https://www.carlsberggroup.com/newsroom/ceo-cees-t-hart-has-decided-to-retire/] of the brewing company on the
Because of the European sanctions on imports of furniture from Russia to the EU, Russian manufacturers lost about 18 billion rubles in a year, and exports of these products fell by almost 40%. By the end of 2022, the volume of exports of furniture from the Russian Federation fell by
The International Federation of Journalists has suspended the membership of the Russian Union of Journalists because of Russia's large-scale invasion of Ukraine. The federation noted that suspension of membership is the maximum sanction that the International Federation of Journalists can impose on its members for violating its charter.