Amid a mass exodus of Western companies from Russia, the US conglomerate Koch Industries is defying the pressure and has decided to continue operations in the country.
Guardian Industries, a subsidiary of Koch Industries, operates two glass manufacturing plants inside Russia that employ about 600 people. Outside of Guardian, Koch Industries employs 15 other individuals in Russia.
Dave Robertson, the president and COO of Koch Industries, released a statement explaining the conglomerate’s decision and denouncing Russia’s invasion. He stated, “The horrific and abhorrent aggression against Ukraine is an affront to humanity.”
“While Guardian’s business in Russia is a very small part of Koch, we will not walk away from our employees there or hand over these manufacturing facilities to the Russian government so it can operate and benefit from them,” Robertson said. “Doing so would only put our employees there at greater risk and do more harm than good.”
Economist David R. Henderson, an emeritus professor of economics at the Naval Postgraduate School and a research fellow with the Hoover Institution, praised Robertson’s statement. “If you want to hurt a government, you don’t do it by giving it more resources,” Henderson told Antiwar.com.
According to a tally done by Yale University’s School of Management, over 400 companies have withdrawn from Russia or limited operations. In response, Russia is exploring the idea of seizing the companies’ assets that are left behind and potentially nationalizing the businesses.
Since Russian President Vladimir Putin ordered the invasion on February 24, the US has worked with its allies to impose crushing sanctions on Russia aimed at wrecking the country’s economy. The measures have done nothing to deter Putin since they were factored into his decision to attack Ukraine, but the sanctions are punishing ordinary Russians for their president’s decision.
Americans are also feeling the economic pain from the sanctions, something President Biden said to be prepared for. Amid soaring gas prices and inflation, Biden signed an executive order banning Russian oil imports and then announced a plan to ban other Russian goods.
Robertson noted that Koch Industries is complying with US sanctions. “To be clear, Koch companies are complying with all applicable sanctions, laws, and regulations governing our relationships and transactions within all countries where we operate,” he said.
Koch Industries CEO Charles Koch has a history of backing organizations that favor a more non-interventionist foreign policy, including the Quincy Institute, the Cato Institute, Concerned Veterans for America, and the American Institute for Economic Research.
“Peace and free trade with all; entangling alliances with none.”
Who cares? They employ 615 people. The Kochs are marginal in US discourse anyway, just like the sites they fund. This is just an example of the anti-Russia hysteria that results in idiots dumping vodka that isn’t even made in Russia.
How many reports of US idiocy can one read in one day, let alone report on?
Your work force number is off by a factor of 100.
Dirty, nasty, unnecessary war started, & fed by Obama’s state department. Justin Raimondo has pasted away. The torch must be continued.
Agreed. Although you keep repeating that it started during Obama’s time but you don’t mention the feeding continued under Trump.
“Also, it was me that got Ukraine the very effective anti-tank busters (Javelins) when the previous Administration was sending blankets. Let History so note!” Trump bragged.
We have a right to know the 8 members in the House of Representaves who voted against the Ukraine Warfare/welfare bill. The burning embers & ethnic conflict since 2014 where never going to die down. The sides where never supporting the Organization for Security and Cooperation in Europe. This was the peace observing institution.
To say there was an equivalency between Biden/Obama & Pence/Trump is factually incorrect, no matter, how much a person likes a left wing domestic policy.
The “feeding” as you call it was off-n-on while framed as an American interest & slipped in to Trump Administration. Remember, he fired many Secretaries (had a high turnover rate) but the Biden/Obama team was focused on that regime change and propagation. Justiin Raimondo pointed out who the War Party was. His archives are still available.
Sorry. I was only going by Trumps words.
One thing is for sure any company that stays in Russia will get special treatment from Putin more contracts cheaper energy ect ect , Putin will not forget who his friends are , unlike the IDIOTS in the EU who have cut off their nose to please the USA.
This is the news that matters.
Koch is probably one of the few companies that can weather the politics.
Their likely customer base is anti-sanctions, however silently some may have to be, whereas McDonalds or Apple are vulnerable to progressive/RINO boycotts.
Burger King and a few other Western franchises who have local Russian owners are staying more or less open as well. The mother corps may try and divest or redirect their cut, but the local licensees are secure and can source locally.