France: Business withdrawal from Russia: List of withdrawn companies
Paris
March 10, 2022
Large French company:
With the EU’s economic sanctions against Russia
There is a growing movement to suspend Russian business, especially in large companies.
Railroad vehicle manufacturer
Alstom
March 9,
Based on EU sanctions against Russia
In addition to suspending deliveries to Russia
Announced a policy not to make new investment.
Russia TMH
It has a 20% stake in Russia TMH.
However, he emphasized that there is no business connection with TMH.
Cosmetics
L’Oreal
March 8th
In line with France’s decision, Russia’s retail stores were temporarily closed.
Announced that it will suspend all business and media related investments.
E-commerce dedicated site
It will be closed for the time being and will care for 2,200 employees employed in Russia.
Food
Danone
March 5th
The investment business will be suspended while the production and sales of fresh dairy products in Russia will continue for the time being.
Luxury brand
Kering (Gucci, Saint Laurent)
March 4,
Announced that all stores in Russia will be temporarily closed.
Energy sector
Russian business
energy
TotalEnergies
Engie
TotalEnergies
On the same day
Announced that it will not invest in new projects in Russia.
But of TotalEnergies
Yamaru LNG (liquefied natural gas investment rate 20%)
Arctic Circle “Ark 2” (10% stake)
Did not mention project withdrawal.
Engie
March 2,
There are no manufacturing or investment projects in Russia.
On the other hand, Russia’s state-owned oil giant Gazprom accounts for 20% of the total gas procurement.
Norway,
Netherlands,
Algeria,
From the United States
Increase procurement volume and ensure stable gas supply,
Natural gas “Nord Stream 2”
ENGIE is investing in the natural gas pipeline “Nord Stream 2”.
If this filed for bankruptcy,
It is exposed to a credit risk of € 987 million.
–JETRO
https://www.jetro.go.jp/biznews/2022/03/3b07089fc3906fae.html
Alstom statement – Ukraine | Alstom
https://www.alstom.com/press-releases-news/2022/3/alstom-statement-ukraine
L’Oréal Groupe: Update on Our Solidarity Plan for Ukraine
https://www.loreal.com/en/news/group/our-solidarity-plan-for-ukraine/
World food company – Danone
https://www.danone.com/
TotalEnergies : Position face à la guerre en Ukraine |
https://totalenergies.com/fr/medias/actualite/communiques-presse/totalenergies-position-face-guerre-ukraine
Point de situation relatif à la crise en Ukraine | ENGIE
https://www.engie.com/journalistes/communiques-de-presse/point-de-situation-relatif-la-crise-en-ukraine