BASF has pledged to wind down its remaining businesses in Russia and Belarus, becoming one of the last big German groups to make such a move following the invasion of Ukraine.
The world’s largest chemicals company by revenue, which last month froze all new projects in Russia, said on Wednesday it would close its existing businesses in the two countries by the start of July.
“Exempt from this decision is business to support food production, as the war risks triggering a global food crisis,” said BASF, which also produces fertilisers, herbicides and seed treatments.
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