LyondellBasell Says It’s Quitting Russia
In March, responding to the Russian invasion of Ukraine, the company said it would discontinue business relationships with Russian state-owned entities “to the extent legally possible.”
Richard Roudeix, senior vice president, Olefins & Polyolefins, Europe, Middle East, Africa and India, said current conditions in the region were the primary drivers for the decision announced this week. “We recognize this is a difficult situation for our employees and have a local team in place to support them during this transition period,” he added.
LYB said the two Russian offices were primarily involved in selling polymers from its O&P and APS businesses. Together, they employ 18 people.
The workforces of most other major chemical companies exiting the country are much larger. Major European players who have announced plans for a complete or partial withdrawal, including Henkel, BASF and Bayer, have said they will compensate employees for a certain period of time.
Author: Dede Williams, Freelance Journalist