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29 Apr. 2024

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How much do international companies earn in russia during the war?

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How much do international companies earn in russia during the war?

Some foreign corporations still remain on the russian market despite the ongoing war in Ukraine. Some of these companies pay billions of dollars in taxes to the russian budget, which helps putin's regime to wage war against Ukrainian civilians. Find out which companies are still sponsoring the russian budget and what figures we are talking about

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russia's war against Ukraine has been going on for three years now, and during this time hundreds of international companies have decided to cease their operations in russia in solidarity with Ukraine. However, some corporations still continue to operate there and pay huge taxes to the kremlin's treasury, which the putin regime uses to finance the war. With reference to Ekonomichna Pravda, we will tell you how much money some foreign companies have paid to the russian budget.


It is worth noting that the list of companies includes such giants as Metro, Auchan, Leroy Merlin, PepsiCo, Nestle, tobacco giants Philip Morris, Japan Tobacco and others.


It turned out that the revenue of these companies (according to the financial statements for 2021) then reached $130 billion. During that year, they paid $20 billion in taxes to the kremlin budget, of which more than 40% went to tobacco giants.


Two years into the war, many foreign businesses promised to leave russia, and some refused to do so. Also, some of the companies that promised to leave the russian market later stopped publishing financial statements. However, during this period, there were reports that profits also increased to the highest level.


How many foreign giants still operate in russia? 


According to the EP, about 20 corporations operate in russia without remorse, hiding behind the phrases "essential goods" and "investment cuts". The reason why they continue to sponsor the kremlin is eloquently demonstrated by the example of the American PepsiCo. This company published its 2023 accounts and it turned out that its revenues in russia "have become a record since the Soviet era".




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However, the tobacco giants make the most money for the russian budget. Only two of the big four representatives of this industry have completed their withdrawal from russia: British American Tobacco and Imperial Brands. American Phillip Morris, the largest international company in russia in 2021, increased sales by 13%, and another tobacco giant, Japan Tobacco International, by 40%.


International sponsors of the war


As you know, Ukraine has long had a register of international sponsors of war created by the National Agency for the Prevention of Corruption. 


However, in March 2024, the Government of Ukraine decided to close the register after numerous appeals from diplomatic representatives of partner countries, who stressed the lack of a proper legal basis for the existence of such a list and its negative impact on international relations.


We remind you! russia's full-scale invasion forced international companies to suspend their operations in Ukraine, but many of them have already returned. Read here to find out which companies have resumed operations despite the war and who Ukrainians are still waiting for in Ukraine.


Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.




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