Hunting for companies in Russia
The following example is intended to illustrate what this means in practice for internationally active companies: The Austrian Raiffeisen Bank International is under pressure - less economically than morally. Although the bank has slowed down new business with customers in the Russian Federation since February 2022, it has not withdrawn from the Russian market. A strong rouble and high interest rates have enabled Raiffeisen to make a profit of €1.4 billion between January and September 2022, half of the group's profits. However, Raiffeisen is currently unable to access this money due to Russian counter-sanctions.
The pressure is now mounting, as the chairman of the board, Johann Strobl, and the managing director, Andreas Gschwenter, are listed
on the Ukrainian website "War & Sanctions"
under the heading "awaiting sanctions". The main sponsors of the site, the Ukrainian Foreign Ministry and the National Anti-Corruption Agency of Ukraine (NAZK), are therefore clearly recommending sanctions against the two businessmen.
The main goal of "War & Sanctions" is "to inform foreign governments and the general public about the sanctions that have already been imposed on Russia and to call for expanding sanctions against those who support the war. This can ensure maximum pressure on the war accomplices and bring the victory of Ukraine closer.
In this context, the public is called upon to actively participate in the hunt: "The Portal allows users to see which countries have not yet imposed sanctions on a specific person, regardless of the fact that he or she is already under sanctions in other states. This will help to synchronize sanctions lists more quickly and limit opportunities to circumvent sanctions
Officially, the platform operators commit to cooperate with the International Working Group on Russian Sanctions of the Freeman Spogli Institute for International Studies at Stanford University,
and in particular with the Yermak-McFaul Expert Group. The expert group was established at the initiative of the President of Ukraine, Volodymyr Zelensky. It is headed by the head of the Ukrainian presidential office, Andrii Yermak, and the director of the Freeman Spogli Institute for International Studies (FSI), Michael McFaul.
In addition to Michael McFaul, Jeffrey Sonnenfeld is particularly active in the United States in tracking down possible Russian supporters in the international economy. The founder of the Chief Executive Leadership Institute at the Yale School of Management
has been observing well over 1,200 companies since February 2022, according to his own indications.
Sonnenfeld boasts that he has made a significant contribution to the economic war against Russia: "Our list has already garnered extensive coverage for its role in helping catalyze the mass corporate exodus from Russia
." Of the 226 current international companies that - according to Sonnenfeld's observations - stubbornly refuse to leave Russia, there are only 25 US-American companies! Apart from 41 Chinese companies, almost half of the companies (103) are based in the EU: 25 from France, 19 from Germany, 12 each from Italy and Austria, 7 from Slovenia, 6 from Greece, 5 each from Spain and Hungary, 4 from the Netherlands, 2 from Luxembourg and 1 each from Belgium, the Czech Republic, Latvia, Poland, Portugal and Cyprus.
However, this list only concerns one part of the observed companies that are accused of "defying demands for exit or reduction of activities
". Many companies from the EU are found in other lists because they are "postponing future planned investment/development/marketing while continuing substantive business...
" or just "scaling back some significant business operations but continuing some others
Let us recall that the EU elites have granted Ukraine
the status of a candidate for membership.
Let us recall that US-American think tanks like the US Council on Foreign Relations are publicly calling for immediate access
to the EU's internal market in order to support the country's economy.
Let us also recall the official motto of the Yale School of Management: "Novus Ordo Seclorum". It is one of the two Latin currencies on the back of the US seal and on the back of the dollar note.
This brings us full circle: the United States is waging an economic war in and against Europe and Russia. The damage is already enormous - not only on the economic level.