Following the announcement on 3 March that no new business activities would be undertaken in Russia and Belarus, BASF has now decided to shut down the company’s remaining business activities in the two countries. The decision reflects the company’s strong condemnation of the Russian attack on Ukraine and the violence being perpetrated against the civilian population.
The Board of Executive Directors of BASF SE has today announced the decision to wind down the company’s remaining business activities in Russia and Belarus, stating that this was a process that will have been achieved by the beginning of July 2022.
The Board said that the business supporting food production would be exempt from this decision, 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, some 684 employees work for BASF in Russia and in Belarus. The company says it will continue to support its employees in both countries until the 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.