Skretting owner vows ‘no new investments, no new exports’ for Russia

The Dutch conglomerate that owns feed businesses Nutreco and Skretting has joined the economic war against President Putin’s Russia.

Responding to the Russian invasion of Ukraine, SHV said: “For now, no new investments, no new projects and no new exports to Russia will be undertaken. Simultaneously we assess our current and future obligations on a continuous basis as the situation evolves. We fully adhere to the sanctions, both in spirit and in law and make sure we stay compliant in what we do.”

The SHV group, which includes SHV Energy, said it has around 1,100 employees in the Ukraine and their safety would be its “first priority”, adding: “Our deepest sympathy goes out to all the people and families seeking safety, shelter and peace following the violation of the territorial integrity of Ukraine by Russia.”

Aquafeed specialist Skretting owns a subsidiary, Skretting Russia AS, which had a turnover of €567,000 in 2021, but this company is headquartered in Stavanger, Norway.

Earlier this week, Intrafish reported that Skretting was waiting for guidance from the Norwegian Government on whether they would be able to continue supplying their aquaculture customers in Russia, given the sanctions imposed on that country.