Air Products has today (21st March) said it will implement the safe and responsible divestiture of its business in Russia and will not pursue any new business development activities in the country.
Confirmation of the industrial gas giant’s position in the region follows publication of the Yale School of Management’s list, which detailed the position hundreds of businesses in Russia. At the time of release, the doccument suggested Air Products was “digging in and defying demands” for halting or reducing its activities in the country.
In the last few weeks, many firms have placed sanctions against Russia as a result of its invasion of Ukraine. As tensions continue to grow between the two Eastern European countries, pressure continues to mount on those companies who have not placed sanctions against the country.
Up until today, Air Products had remained tight-lipped on the matter. However, a statement shared on social media from Seifi Ghasemi, Chairman, President and CEO at Air Products, confirmed the company is now following suit and will further support those in need at this difficult time.
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