Grundfos sets sales terms post Russia issue
Grundfos has established sales terms with a Turkish customer to prevent EU-sanctioned products from ending up in Russia. The measure follows revelations that Russian firms imported Grundfos products under EU sanctions at least 40 times from September to January. This was detailed by Radio IIII, using data from Russian customs and American firm Importgenius. A Turkish customer, Penta Enerji, resold Grundfos items to ADN, which allegedly sold them to Russia. Grundfos believes Penta Enerji was unaware that the products could be sent to Russia. Moving forward, Grundfos products will not be resold to ADN. Following the outbreak of war in Ukraine, Grundfos sought to sever ties with Russia, announcing plans to exit the market in August 2022 and selling its Russian and Belarusian operations to local management in December, with Russian approval in early 2024.