Maersk gets closer to ending Russian operations by selling two logistics sites

Maersk is almost out of Russia.
The Copenhagen-headquartered shipping and logistics firm yesterday (Feb. 20) announced that it has 'entered into an agreement to divest its logistics sites in St. Petersburg and Novorossiysk to IG Finance Development Limited.'

Maersk stated that the decision to sell both the container depot and warehouse sites was 'a result of the company's March 2022 decision to cease all activities in Russia. February 2022: Maersk announces it will stop all ocean, air, and intercontinental rail reservations to Russia and Belarus. Foodstuffs and supplies for medical and humanitarian purposes (barring dual-use items) will be exempted. March 2022: Maerks tightens its restrictions to prevent any new bookings from Russia or Belarus. May 2022: Maersk ceases calling any Russian or Belarusian ports after it has completed its last cargo operation. February 2023: Maersk's Russian business activities are almost over after it sold its two last logistics facilities. Multinational companies have been pressured to end Russian operations since Russia invaded Ukraine in Feb 2022. Volodymyr Zelenskyy (the president of Ukraine) pleaded for companies doing business with Russia to leave because the market was 'flooded by our blood'. And many businesses left. British telecommunications firm BT Group has maintained its relationship with Rostelecom for ten years to allow calls between Russia and the UK. Nestle has stopped the 'vast majority of its Russian sales, which includes nonessential products such as chocolate. It continues to produce baby formula and assets, however. Nestle donated all its profits to humanitarian relief organisations to avoid having to pay corporate taxes to Russia. The Dutch beverage manufacturer Heineken pulled its eponymous beer out of Russia last year but continues to sell other brands. Agent Provocateur, a British lingerie brand still has boutiques in Russia. The Russian website has also been accepting orders. According to The Guardian, the company said that sales are being made through franchisees set up by an owner and that it doesn't have any operations in Russia. DP Eurasia, the Russian franchisee of Domino's Pizza, is looking at selling its business. Auchan, a French supermarket chain, has continued to do business in Russia as usual. However, its shops were allegedly used as a front to sell goods to the Russian army. According to reports in France's Le Monde newspaper, Auchan employees in Russia collected store goods in the amount of 2 million rubles ($27,000). These included woollen socks as well razors that were sent to soldiers who had requested humanitarian aid. Dmytro Kuleba a Ukrainian minister called Auchuan "a full-fledged tool of Russian aggression." The Mulliez family, who owns the company denies these allegations.

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