How much power do foreign businesses actually have to defund Russia’s war?

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Published Jul 6, 2023

Since the beginning of the war in Ukraine, hundreds of international companies have withdrawn from Russia. A substantial number remain however.
According to a new study co-authored by the Kyiv School of Economics and the civil society umbrella group B4 Ukraine, last year, foreign businesses operating in Russia raked in over 14 billion dollars in profits. A good portion of that - some 3,5 billion - went into Moscow's coffers as taxes.
American firms accounted for over 700 million dollars of taxes paid, with German, Swiss and Japanese companies coming in behind.
The most lucrative sectors included alcohol and tobacco, with companies like Philip Morris and Japan Tobacco International among the top earners.
Consumer-Goods, represented by the likes of Proctor and Gamble and Pepsi also did well as did Automobiles, with South Korea's Hyundai, Kia, and several Chinese brands among the biggest money-makers.

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#business #russia #ukraine

Category: Europe
Tags: DW News, funding russia’s war, financing russia’s war

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