US Conglomerate Koch Industries Plans to Withdraw From Russia Over Sanctions - Reports
MOSCOW (Pakistan Point News / Sputnik - 22nd April, 2022) The US conglomerate Koch Industries is working on the strategy of withdrawing from the Russian market over the sanctions, media reported.
According to The Hill newspaper, Koch Industries owns the Guardian Industries companies that has two glassworks plants in Russia.
"Sanctions announced in early April, combined with the Russian government's response and other actions, have made conditions untenable for Guardian to continue operations in Russia," President and Chief Operating Officer of Koch Industries Dave Robertson said in a letter to employees, as quoted by The Hill.
He added that another cause of the decision was the Russian proposed bill that make it illegal to comply with foreign sanctions.