Statement on PwC Russia - Sanctions update (7 June 2022)
07/06/22
As a result of the Russian invasion of Ukraine, we announced on 6 March that, under the circumstances, PwC should not have a member firm in Russia. On 29 April, PwC Russia announced brand separation from the PwC Network. Work continues on other aspects of the departure of the Russian firm from the PwC Network, which will be completed as soon as practicably possible.
In addition, PwC member firms outside of Russia are exiting any work for Russian entities or individuals subject to sanctions. Any sanction on specific Russian entities or individuals that is passed anywhere in the world will be applied everywhere in the world. Additionally, all PwC member firms outside of Russia will not undertake any work for the Russian Federal Government or state-owned enterprise.
With respect to the professional services bans announced by the United States in May and the European Union in June, PwC is working to apply these bans to services from PwC firms in the US and EU, and US and EU persons working elsewhere in the PwC Network.
We cannot comment on specific companies or individuals.
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