Air Liquide has confirmed it will withdraw all of its business activities from Russia.
In a statement released today (2nd Sep), the industrial gas giant said it has signed a Memorandum of Understanding (MoU) with the local management team to transfer its Russian business in a management buy out.
Earlier this year (March 2022) Air Liquide said it was ‘rigorously’ applying international sanctions against Russia. The company also halted all foreign investment and large development projects in the country.
Air Liquide’s decision to withdraw its operations in Russia comes as a result of the ongoing war between Russia and Ukraine. Many other companies have also carried out similar actions.
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