“An interruption of our business in Russia would have far-reaching consequences, including effects on our employees,” Knobel said, according to a statement from the business group released by German capital radio.

Henkel continues producing and selling in Russia, since it manufactures with daily use products, for example cleaning and hygiene products.

Knobel underlined that Henkel applied all international sanctions against Russia, thus stopping all advertising and ending sponsorship activities.

It also froze all planned investments in Russia, Knobel said, and added that Henkel was following developments very carefully.

However, Knobel said that Henkel would not make any frivolous decisions, without elaborating on it in his speech.

Henkel has been present in Russia for about 30 years and, according to its own information, has eleven production sites in Russia, mainly oriented to the domestic market.

Its annual sales reach almost one billion euros (about 1.1 billion US dollars).

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