By KYIV. Jan 10 (Interfax-Ukraine) – The international agricultural research company Corteva Agriscience estimates the financial consequences of the termination of activities in the Russian market due to its aggression in Ukraine at $45 million in the second quarter of 2022 alone.
At the same time, since the beginning of the full-scale Russian aggression, Corteva has supported humanitarian and donor initiatives in Ukraine totaling over UAH 60 million as of early December 2022, according to a company press release on Tuesday.
Data on the financial consequences for the company due to Russian aggression were announced by Corteva Agriscience Ukraine CEO Olena Dunina during a meeting with US Under Secretary of State for Political Affairs Victoria Nuland during her visit to Kyiv in December 2022.
"Russia’s unjustified brutal aggression against Ukraine meant that we had no choice but to stop production and commercial activities in the aggressor country. We put the value of human life above all else and war is completely unacceptable from the point of view of our beliefs and principles," Dunina said at a meeting with Nuland.
"Some of our competitors continue to do business, profit and support the Russian regime. Those who continue to work in Russia claim to be doing so in the interests of food security, but in fact their taxes and products are being used to support Russian aggression. Corteva remains only with Ukraine and is doing everything to support the population and farmers in Ukraine," Corteva quotes its CEO.
In turn, Nuland assured the company’s representatives of the full U.S. support for Ukraine and assistance in deepening relations between the countries’ economies. She also expressed admiration for the resilience of the Ukrainian people and business in the face of the Russian invasion.
Corteva Agriscience is a global agricultural company. It offers farmers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in the portfolio.
Its representative office in Ukraine includes a central office in Kyiv, a research center in the village of Liubartsi (Kyiv region) and a seed production complex, opened in 2013 in the village of Stasi (Poltava region). Investments in the plant over five years amounted to more than $56 million.
In April 2022, the company decided to exit the Russian market due to the full-scale armed aggression against Ukraine.
