After Mondi’s withdrawal, all UK companies have departed Russia

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When the Russian War against Ukraine began, the British BP company that sounded a gong from the exodus of the corporate which is now expanding from Russia. Only a few days after the invasion, BP was the first large company to withdraw from the country by dismantling its shares in the Rosneft state-owned oil company-that ended 30 years of cooperation with the Russian energy giant. The western business world follows him.

In fact, since then nearly 1,000 companies have decided relations with Russia in several forms or forms. One in ten of them is the British business, most of them move quickly to take action, unlike French companies.

Only one British company fighting trends and maintains business as usual: Mondi, paper producer. However, even now has been subject to public and political pressure, announced on May 5 that they would release their operations from Russia. Britain can now boast that all companies in Russia have taken action, something that most Western countries cannot claim.

In many ways, it is a much easier decision for monolites like BP to leave Russia than for people like Mondi.

BP is the name of a household in the public eye. What’s more, it has long had an uncomfortable relationship with the Russian government. Igor Sechin, Chairperson of Rosneft, is a close ally of President Vladimir Putin, while the company is also the main supplier of fuel for Russian army.

In other words, BP has no choice but to go out, while companies that are less known and lack of politics such as Mondi can fly under the radar, so that gives them more time and less pressure to take action.

In addition, it is easier to become ethical when there are less losses, which is why many companies have taken the longest to withdraw from Russia are those who have a higher level of market penetration in this country. Mondi is one business like that, like many big French players who have not relented.

A global leader in packaging and paper, Mondi operates in more than 30 countries, but 12% of his overall income (€ 6.66 billion) originated from Russia’s major operations, which began 22 years ago.

The most significant facilities are packaged paper and paper factory located in the Republic of Komi Russia. This group also has three factories that convert in other places in this country. All of these facilities mainly serve the domestic market and continue to operate during the war in Ukraine (while the Ukraine Mondi factory has stopped). Overall, the company employs around 5,300 people in Russia, with a net asset value in books of almost € 700 million ($ 735.85 million).