Posted on May 8, 2024
In 2022, after the start of the Russian invasion of Ukraine and the imposition of sanctions, Maersk announced the termination of its business in Russia. Over the past two years, the company stopped accepting cargo in Russian ports and sold its stake in the Global Ports port holding, warehouses in St. Petersburg and Novorossiysk, and more than 800 refrigerated containers of the Polar Star company to the Delo Group.
In the same year, Maersk began liquidation proceedings against its subsidiaries, Maersk Solutions LLC and Maersk LLC. Both companies stopped liquidation procedures, resumed operations, and at the end of February, Maersk LLC made an additional contribution to the company’s property worth RUB 20 million, RBC reports.
The reports of the Russian subsidiaries for the past year indicate that they did not conduct any operating activities and did not receive any revenue, and that the services of Maersk Solutions may not be in demand due to the sanctions.
They noted that Russian organisations will choose suppliers from “friendly countries” when choosing suppliers.
A.P. Moller-Maersk Group is one of the world’s largest container shipping players. The company holds about 15% of the total market.
