Latest update: 16 September 2022

The recent Ukrainian offensive in the north-eastern Kharkiv region saw rapid success, which Ukrainian forces may now seek to extend into the Russian-controlled Donbas, towards Luhansk and Mariupol. A further Ukrainian offensive seems likely in the centre of the 1,000-km front near the Zaporizhia nuclear power plant.

These developments have heightened expectations, as expressed in widespread media commentary, that a turning point may have been reached in the conflict – heading for a Ukrainian victory. According to GlobalData, however, the only safe prediction about the war and related sanctions is that both will continue for the foreseeable future.


Cyprus-based Globaltrans Investment could be affected significantly by the war with over 97% of its total revenue coming from operations in Russia and Ukraine


Ros Agro is one of the largest employers in Russia, with over 5,500 new jobs based in Russia posted between January and March this year

// Asterisk (*) denotes the company HQ is in a country imposing economic sanctions on Russia. Companies with HQ in Russia are not included in these charts.


Latest update: 16 September 2022


In July, it was reported that Polymetal was considering the sale of its Russian assets to avert the impact of sanctions imposed by Western nations against Russia in the wake of Moscow’s invasion of Ukraine.

Having closed the transaction, Polymetal would focus primarily on its operations in Kazakhstan.


Of the leading miners, Nornickel initially stated that operations were continuing and in May confirmed supply of palladium and nickel sales were unaffected with no change to its 2022 guidance. However, while not directly affected by sanctions, it is adjusting its supply routes.


In April, the EU announced further sanctions against Russia, which banned the importing of all forms of Russian coal from midnight on 10 August.


Linked to Australia's response to the war, Rio Tinto severed ties with Russian businesses and took sole control over Queensland Alumina.

In March, Canadian miner Kinross announced that it was suspending all activities in Russia, including its Udinsk development project in Khabarovsk Krai, and operations at its Kupol gold mine.

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