Only 18 Swiss Companies Have Completely Exited Russia, Says Yale Professor

2023-02-19 02:20:55

(MENAFN- Swissinfo) Despite calls from protesters like the ones above, pictured in Bern in April 2022, pharma giants Roche and Novartis continue to sell their products in Russia, albeit in a limited manner. © Keystone / Peter Klaunzer

Firms like the industrial corporation ABB, cement manufacturer Holcim and oil trader Vitol are among the few Swiss businesses that have cut ties with Russia since its invasion of Ukraine began nearly a year ago, a list held by Yale University professor Jeffrey Sonnenfeld reveals.

This content was published on February 19, 2023 - 16:49 February 19, 2023 - 16:49 SonntagsZeitung/gw

Sonnenfeld began compiling the list just days after the war began. It now includes more than 1,300 companies and organisations around the world, including 53 Swiss entities, broken down into five categories, the SonntagsZeitung reportsexternal link . In addition to ABB, Holcim and Vitol, some of the other Swiss firms that had plans to completely stop doing business with Russia or leave the country include chocolate manufacturer Lindt & Sprüngli, and sanitary parts manufacturer Geberit.

Full withdrawals from a country take time, however. ABB told SWI swissinfo.ch last month that it was still“working on completing the exit [...] in compliance with all applicable laws and sanctions.”

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