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HSBC, Unilever and BP criticized for failing to exit Russia

Posted On: Jan. 3, 2023 9:33 AM CST

A new report by focused ratings agency Moral Rating Agency said that U.K.-based companies BP PLC, Unilever PLC and HSBC Holdings PLC have failed to properly exit Russia despite condemning its invasion of Ukraine, City AM reported. The report said that these companies have instead used loopholes in the international sanctions regime in order to continue functioning within Russia.