British Mondi Group has been removed from the list of international sponsors of war after the completion of their plan to sell business in the Russian Federation. The British paper and packaging manufacturer has officially confirmed the closing of the deal. The relevant announcement is posted on the London Stock Exchange.
The company also sent a letter to the National Agency on Corruption Prevention (NACP), noting the fulfillment of the conditions that allow it to be removed from the list. In particular, the sale of the largest and last asset of the company in the Russian Federation - the pulp and paper mill Joint Stock Company Mondi Syktyvkar and a complete exit from the Russian market.
"We are grateful to the Mondi company for making the only correct decision - to stop sponsoring Russian aggression. It commands respect for the brand from the civilized world. We wish for the prosperity and development of Mondi's business and anyone else who chooses the values of freedom, democracy and social responsibility, and urge them to follow this example. I am sure that leaving the Russian market is something that corresponds to the long-term interests of any brand. But, unfortunately, not every business is able to understand this in time", - stressed the Head of the NACP, Oleksandr Novikov.
The National Agency is open to cooperation with international business and is ready to consult on the steps necessary to delist each individual company.
The NACP is the body responsible for the compliance system in the private sector. During compliance procedures, counterparties are subject to integrity checks, including socially responsible business conduct in accordance with OECD standards. The list of “International War Sponsors” on the “War and Sanctions” portal is a powerful reputational tool for achieving the integrity of supply chains in the international dimension, the exit of international business from Russia, thus reducing the financial and technological ability of the terrorist country to kill Ukrainians. One of the “leverages” of the platform is cooperation with the World-Check database, which is used by banks and insurance companies for risk assessment. That is why for global companies, the consequences of being on the list become worse than continuing to do business with the aggressor country.
