Bayer will stop investing in Russia and abandon new projects in the country

Pharmaceutical giant Bayer will stop all non-core business and investment in Russia in the wake of the “operation” in Ukraine. The company also restricts the supply of its products to the country, in addition to basic necessities in the field of health and agriculture.

"Bayer has suspended all costs not related to the supply of health and agricultural products in Russia and Belarus," the statement said.

The company refuses to look for new business opportunities in Russia, suspending all advertising activities and events, as well as all investments indefinitely.

Bayer insists he is not suspending his activities in Russia altogether because he has "moral obligations" in every country.

The company drew attention to a statement from G7 countries warning that rising food prices and volatility in international markets could lead to food problems on a global scale. According to Bayer, Russian farmers have already received the necessary resources for the planting season, which will provide the country with a good harvest. However, Bayer insists he will monitor the political situation and make a decision on delivery in 2023 on that basis.

P.S: Concern Bayer AG was founded in 1863 and represents more than 300 companies in various countries. Bayer is also included in the 2021 ranking of the 50 largest foreign companies in Russia, according to Forbes.