Chemical and consumer goods company Henkel is stopping new investments in Russia, all advertising on state-owned media outlets, and all sponsoring activities.

"We fully comply with all sanctions against Russia and its government and the financial sector. Beyond the sanctions, we will freeze all future investments in Russia," Henkel CEO Carsten Knobel was quoted as saying in a company statement.

"For now, Henkel will continue to supply essential goods in Russia, for example household and personal hygiene products. The company will closely monitor the dynamic situation and decide on further measures," the statement said.

"We share the shock about the war in Ukraine and stand behind the call of the global community on Russia to immediately withdraw its military forces from Ukraine. We hope that a diplomatic solution can still be found, and the fighting can be ended to avoid further suffering and a humanitarian crisis," Knobel said.