The German chemical company BASF SE, one of the largest in the world, intends to curtail all activities in Russia and Belarus by July, except for the production of additives for the food industry.
“The Board of Executive Directors of BASF SE has also decided by early July 2022 to curtail the remaining business activities of the company in Russia and Belarus. Businesses that support food production are exempted from this decision, as the war risks provoking a global food crisis,” the company said in a statement.
In early March, against the backdrop of the war started by Russia in Ukraine, the company announced the abandonment of new projects in Russia and Belarus. The company is now developing detailed plans for an orderly winding down.
It is noted that in 2021, the revenue of the group’s companies in Russia and Belarus amounted to about 1% of the total sales of BASF Group (78.6 billion euros). Now 684 BASF employees work in these countries. The company intends to support them until the end of 2022.
BASF operates through six core business segments: Chemicals, Materials, Industrial Solutions, Surface Technology, Nutrition & Care, and Agricultural Solutions.
