DÜSSELDORF, Germany — In response to the war in Ukraine, Henkel announced that it will freeze future investment plans in Russia. Additionally, the company is stopping all advertising on Russian state-owned media and all sponsoring activities. Henkel has also launched a financial aid package for Ukraine of more than €1 million.

“We share the shock about the war in Ukraine and stand behind the call of the global community on Russia to immediately withdraw its military forces from Ukraine. We hope that a diplomatic solution can still be found, and the fighting can be ended to avoid further suffering and a humanitarian crisis. Our highest priority in this situation is the safety of our colleagues in Ukraine, and we are doing everything possible to support them in this dramatic situation. We fully comply with all sanctions against Russia and its government, and the financial sector. Beyond the sanctions, we will freeze all future investments in Russia, for example for site expansions. We have also stopped all advertising in state media and will cancel all sponsoring activities in Russia,” said Henkel CEO Carsten Knobel.

Henkel’s financial aid package contains financial emergency aid for each affected colleague, a financial donation to the International Red Cross, and paid time-off for all volunteers who support refugees or aid organizations at the borders. For now, Henkel will continue to supply essential goods in Russia, such as household and personal hygiene products. The company reports that it will closely monitor the dynamic situation and decide on further measures.