BASF to wind down activities in Russia and Belarus
Published by Bella Weetch,
Editorial Assistant
Hydrocarbon Engineering,
As announced on 3 March 2022, BASF has not conducted new business in Russia and Belarus, in light of the war of aggression against Ukraine ordered by the Russian government. BASF strongly condemns the Russian attack on Ukraine and the violence against the civilian population.
The Board of Executive Directors of BASF SE has now decided to also wind down the company’s remaining business activities in Russia and Belarus by the beginning of July 2022. Exempt from this decision is business to support food production, as the war risks triggering a global food crisis. This decision is driven by the recent developments of the war and in international law, including the fifth E.U. sanctions package.
Currently, 684 employees work for BASF in Russia and in Belarus. The company has decided to continue to support its employees in both countries until end of 2022. Detailed plans for an orderly cessation of BASF’s business in Russia and Belarus are currently being developed. In 2021, Russia and Belarus accounted for around 1 percent of BASF Group’s total sales.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/04052022/basf-to-wind-down-activities-in-russia-and-belarus/
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