BASF to end Russian activity
BASF’s board has decided to also wind down all business activities in Russia and Belarus by the beginning of July, except those needed to support food production. The company said that the decision was driven by the recent developments in the war in Ukraine and international law, including the fifth sanctions package by the EU.
The company had ceased to conduct new business in Russia and Belarus by 3 March but had come under pressure to do more. On 15 March, Ukrainian president Volodymyr Zelenskyy named BASF, Bayer and Sanofi among others, as “large corporations that still sponsor Russia’s military machine and have not left the Russian market, although they should have done so immediately”.
BASF has 12 sites in Russia, where it employs about 700 people, and owns a majority of oil and gas firm Wintershall Dea, which is active there. It employs 684 in Russia and Belarus, which accounts for about 1% of sales. Detailed plans for withdrawal are now being developed.