Keeps track of international companies that are still active in Russia

Yale Institute for Executive Leadership – Yale CELI for brevity – Since Russia Invaded Ukraine List About companies around the world that have closed or reduced their operations in Russia more than required by law and international resolutions – and which have not.

The list started small, but is updated daily, and at the time of writing there are more than 1,200 large and small companies around the world included in it. Of these, about 1,000 limited their activities in Russia, and about 200 did it to a lesser extent or not at all.

Depending on how much they scale back their business in Russia, Yale CELI awarded companies classic high school degrees:

  • Grade A: “Withdrawal” (320 companies)
  • Class B: “suspended” (412 companies).
  • Class C: “downsizing” (122 companies)
  • Grade D: “Time to Buy” (144 companies)
  • Iron Class F: “Dig In” (214 companies)

Many well-known technology companies receive iron marks

While writing this, many well-known names in the field of technology and communications have been given the worst marks by Yale CELI. However, we reserve the right not to update the listings with the latest information.

You can by yourself Search the list By making use of the flexible and somewhat advanced filtering function. Here’s how:

  1. Click “Filter” at the top left of the menu.
  2. Select Add Condition.
  3. Select the type of field you want to see results from, such as Country (“Country”), Industry (“GICS Industry Sector”), or Grade (“Score”).
  4. Choose what you want to do with the field, such as contains, consists of, does not contain, etc.
  5. Choose keywords or the like, such as “Norway”, a specific letter, or the like.
  6. If you want to create a more advanced search, you can start from point 2 again and add more criteria. You can also choose whether all criteria must be present, or whether only one holds, any and/or.


There are not many Norwegian companies on the list, but there are some.

There are no Norwegian companies listed with a grade of F or D, and the only company with a grade of C is Hydro. List of Yale CELIs Links to statement from Hydro on March 2However, this is not the latest statement from Hydro. Digi received this link on March 31st From Hydro Information Director Halvor Molland, where the company states, among other things:

On March 2, Hydro decided not to enter into new contracts related to Russian companies. Hydro has already reduced its contractual commitments and is in the process of further reducing its remaining commitments for 2022. The company has no employees, activity or investments in Russia.

As a reason for not withdrawing completely, Hydro states that it could result in a breach of contract which would lead to liability and, therefore, could result in further transfer of funds to Russian companies. Hydro also wrote that they are working to reduce their obligations without breaking these contracts, and that it may take a little longer than desired.

– Hydro condemns the unjustified Russian invasion of Ukraine and supports the sanctions imposed by the European Union and the international community. Hydro follows the sanctions that are implemented and pledges to comply with all existing and new sanctions in full.

Other Norwegian companies

Brav, Elopak and Yara are listed as Grade B, “suspension” and Class A “drag” were awarded to Equinor, KLP, Orkla, Storebrand and Vinmonopolet.

Of course, there are many Norwegian companies that have withdrawn or reduced their operations in Russia, and they are not on the list at all. For example, in April, Amedia handed over control of the Russian printing business to Nobel laureate Muratov.

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Hanisi Anenih

Hanisi Anenih

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