VTG AG divests its Russian business

“We, the management of VTG, continue to condemn Russia’s war of aggression against Ukraine in the strongest terms. In light of this situation, we have decided to discontinue our Russian business activities and sell the relevant VTG organizational units,” says Oksana Janssen, Chief Operating Officer Eurasia & Far East, explaining the company’s decision. “We have reached a geopolitical turning point that is bringing terrible suffering to the people of Ukraine, but that is also bringing fundamental change on the global political stage and to the world’s economy. As a company, we too must face up to this new reality. It is important that we play our part in upholding the founding principles that define the European Union as a place of peace, democracy and human rights, and that this commitment is also reflected in our business activities.”