According to a statement published on its website Wednesday, Koch Industries, led by billionaire donor Charles Koch, will stay in Russia despite calls for American companies to leave the country. More than 400 companies have either withdrawn, suspended or scaled back their operations in Russia because of the invasion of Ukraine, according to a list compiled by the Yale School of Management.
Koch Industries' Guardian Industries has two glass manufacturing facilities in Russia. Koch has an additional 15 employees in the country.
While Guardian's business in Russia is a small part of Koch, we will not walk away from our employees there or hand over the manufacturing facilities to the Russian government.
According to data published by the United Nations, Robertson criticized Russia's attacks on Ukraine, which have killed civilians and led over 3.1 million people to flee their homes.
He said that the aggression against Ukraine was an insult to humanity.
The company decided to stay in the country and follow Russian rules, despite the fact that leaving would hurt its employees.
All applicable sanctions, laws and regulations governing our relationships and transactions within all countries where we operate are complied with by Koch companies.
In a virtual address to Congress on Wednesday, the President of Ukraine urged lawmakers to pressure companies in their states to cut business ties with Russia.
Zelenskyy said that all American companies should leave Russia immediately.
Ukrainian President Zelenskyy calls on members of U.S. Congress to issue further action against Russian politicians, apply pressure on companies to exit Russia.
"All American companies must leave Russia...immediately because it is flooded with our blood." https://t.co/YTjDsZBM0G pic.twitter.com/9PkcKl8W84
— MSNBC (@MSNBC) March 17, 2022
According to Forbes, Koch Industries, Inc., which employs over 120,000 people in more than 50 countries, has annual revenues of $115 billion.
Charles Koch, the company's 86-year-old CEO, threw his money behind the tea party movement after Barack Obama's election victory. He regrets the partisanship he has come to be known for.
Did we make a mistake? He wrote a book called "Believe in People: Bottom-Up Solutions for a Top- Down World" in November 2020.
He did not reveal which candidate he supported in an interview with the Wall Street Journal in November 2020.
Koch Industries was the fourth-largest donor to Republican lawmakers who lied about Joe Biden stealing the 2020 election, according to OpenSecrets. Koch said Republicans should certify Joe Biden's Electoral College victory.
Koch is ranked 27 on the Forbes World Billionaires List.
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