The member countries of the European Union have opted to implement a series of sanctions against Russia due to the invasion Ukraine. These measures, which affect economic relations between Europe and Moscow, were implemented from the first weeks of the conflict. The sanctions have been extended in relation to the warlike events that occurred in Ukraine. Many Spanish companies They have chosen to close all kinds of commercial relations with the largest country in the world. However, there are some that continue their activity, as the president of Ukraine has pointed out, Volodymyr Zelensky, in his speech before the Congress of Deputies.
One of these companies that continues to maintain commercial relations with Russia is Maxam Corp., a Spanish company with fiscal headquarters in Madrid. The Ukrainian president has made this practice ugly and has asked that they cease their activity immediately, wondering: “How to allow Russian banks to generate profits while they are torturing people?”
The multinational is a company engaged in mining, weapons and chemical activities. Founded in 2006 as a result of a refounding of the centennial Spanish Union of Explosives (UEE), Maxam Corp, in turn, is distributed through more than 50 countries around the world divided between 140 subsidiary companies.
Maxam Corp has developed its business activity focused on international trade and the main areas of action in which the company works are the following: explosives for civil use, cartridges and gunpowder for sports use, articles and services for the defense industry and raw materials in nitro-chemistry, among many other activities.
It has a template 6,500 workers distributed among its area of international action. These employees are distributed by the different subsidiaries, one of the most important being located in Russia.
This Spanish company has been developing its commercial activities in Russia for several years and since 2015 the economic relations between Maxam Corp and the country governed by Putin have been strengthened, due to the large mining operations that are in the territory.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.