RUSSIA—  Mondi has confirmed that it plans to divest its Russian operations because of the country's invasion of Ukraine. Mondi has a substantial presence in Russia with a net asset value on its books of nearly €700m . It employs 5,300 people there, and the businesses accounted for around 12% of the €6.66bn  group’s sales by location of production. The facilities include an integrated pulp, uncoated fine paper and packaging paper mill at Syktyvkar in Komi Republic, to the north-east of Moscow. It also operates flexible packaging production sites at Peraslavl and Aramil, and makes corrugated products at Mondi Lebedyan. “Since the announcement on 10 March, having assessed all options for the group’s interests in Russia and recognising its corporate values and stakeholder responsibilities, the board has decided to divest the group’s Russian assets,” Mondi stated.