IRISH-BASED BUILDING materials company Kingspan has joined the list of organisations leaving the Russian market since the invasion of Ukraine.

In a statement, Kingspan said it has exited the market in Russia after deciding to leave in early March. It divested its operations to local management. 

The company said it took several weeks to complete the exit “in an orderly fashion, with the safety and welfare of our staff as a key priority”.

“Russia accounts for less than 1% of Kingspan’s global operations and following this action, Kingspan products will no longer be available for sale in Russia,” the company said. 

The company said it has donated $750,000 (€683,000) to Unicef.

“Kingspan is deeply saddened by the growing humanitarian crisis as a result of Russia’s unjustified attack on Ukraine and its people,” Kingspan added in a statement.

Another Irish company Kerry Group yesterday said it was suspending all operations in Russia and Belarus in response to the ongoing war in Ukraine.

The food ingredients giant said it had already “scaled back” activities in the two countries in recent weeks. 

The company said it is “horrified at the escalation of the humanitarian crisis” in Ukraine.

“This suspension will be managed in an orderly manner, during which the company will continue to pay employees and fulfil our legal obligations,” Kerry Group said in a statement.

The moves follow pressure for companies to leave the Russian market from many including Ireland South Fianna Fáil MEP Billy Kelleher.

He wrote to Kerry Group chief executive Edmond Scanlon last week, urging the company to follow other Irish multinationals — like CRH and Smurfit Kappa — and withdraw from the Russian market.

Ukrainian President Volodymyr Zelenskyy is expected to demand tough new sanctions on Moscow over killings in the town of Bucha when he addresses the UN Security Council later today.

Zelenskyy will also address both houses of the Oireachtas tomorrow morning.