(Reuters.) Several foreign companies that have been exposed to Russia were reviewing contingency plans and deciding whether they should shift production or create new supply chains in order to safeguard their operations from Western sanctions.

Renault (PA::) Avtovaz’s automaker, Finland’s Nokian Tyres and soft-drink Coca-Cola’s (NYSE::) HBC, all stated that they are closely monitoring the Ukraine situation given this week’s escalation.

Five Russian banks were sanctioned by Britain and three billionaires from Russia on Tuesday. Germany also stopped the certification of a pipeline as a result of its first round of restrictions. Both the US and EU are likely to announce new measures regarding energy and technology, as well as financial services.

According to the White House, U.S. Chip Industry was told by its representatives to expect new sanctions on Russia’s exports, which could also include blocking Russia’s access global electronics supply.

Avtovaz (the carmaker that created the Lada brand and in which Renault owns 69%), stated Tuesday it is looking for different sources of semiconductors to protect itself from Washington’s electronics clampdown.

Nicolas Maure from Avtovaz, chief executive said, “Ofcourse we are also exploring possibilities to find alternative in the case of sanction,” he told reporters in Izhevsk.

Russia depends on chips from abroad. A senior Russian industry source stated that there were concerns about delivery times and the possibility of new orders.

Nokian Tyres has both a Russian factory and warehouse. It stated that it had increased its risk management and was ready to transfer certain products from one plant to another if needed.

STOCKPILING MATERIALS

Coca-Cola HBC (which bottles soft drinks in 29 European countries and Africa, and considers Russia and Nigeria its largest markets), said that it learned from the Russian-Ukrainian war of 2014.

Zoran Bogdanovic was the Chief Executive. The company said that it is considering stockpiling certain ingredients to reduce disruption in Russia, and also had plans for other sourcing raw materials.

Ben Almanzar is Chief Financial Officer.

Nestle, a Swiss company that makes consumer goods in Switzerland, declined to discuss sanctions. However it stated that safety was the top priority for its employees. Nestle has six Russia-based factories. These include confectionary plants and beverages. The 2020 Nestle sales were approximately $1.7 billion.

Danone is the biggest maker of yoghurt in the world and also controls Prostokvashino Russian dairy brand.

Metro German retail chain, which is based in Russia but also has an operation in Ukraine, indicated that it was monitoring the developments closely.

Metro spokesperson Gerd Koslowski explained that Russia is Metro’s primary responsibility. He also said that Metro has the same concern in Ukraine.

However, some companies such as Germany’s HeidelbergCement, (DE:), stated that they didn’t expect any significant impact on Russian operations, regardless of the fact that conflict might escalate.

A spokesperson for the company stated that all three of its Russian cement plants are local/regional suppliers and export to Russia.

EXPOSURE TO ENERGY

In the aftermath of Moscow’s 2014 annexation, Washington and Brussels placed sanctions against Russia’s defense and energy sectors. It is possible that these sanctions could be expanded and deepened. One possibility would be to stop companies from settling in U.S. Dollars.

BP, the UK’s largest foreign investor with a 19.75% share in Rosneft state-run oil company Rosneft (NYSE:), declined to answer questions about possible new sanctions.

Anglo-Dutch oil firm Shell (LON) holds 27.5% in the Sakhalin-2 Liquid (LNG), which has a annual production capacity of 10.9 Million tonnes. It is managed by Gazprom (MCX).

Wael Sawan, Shell’s integrated gas head, told reporters Monday that the company would adhere to any Russian sanctions.

Equinor Norway has minor stakes in three Russian Oilfields. It stated that its processes were in place to make sure it adheres to relevant sanctions.

Uniper is a German utility that counts Russia among its top markets. Uniper declined to comment.

Uniper operates five Russian power plants with an aggregate capacity of 11.2 gigawatts. It supplies about 5% Russia’s energy needs. According to the company website, it also imports Russian natural gases to Europe.

According to Fortum of Finland, 76% of Uniper is owned by Finland, “On a generally note, so far, energy production in Russia was excluded from EU sanctions.”

It stated that it was “following the situation closely” and would assess possible effects of counter-sanctions once announced.