International brands and war: how many companies still finance the Russian economy
10 January 11:41
In 2024, more than 160 international companies finally ceased their operations in the Russian Federation by liquidating or selling their businesses. However, more than 2,220 companies continue to operate in Russia. This is reported by "Komersant Ukrainian" with reference to the data provided in the KSE Institute’s monitoring as part of the Self-Sanctions/LeaveRussia project, which analyzes the impact of foreign business exits on the Russian economy.
In 2024, such well-known brands as FedEx, Carlsberg, Unilever, Moncler, Hugo Boss, Danone, Siemens, ExxonMobil, IKEA, as well as Inditex, the owner of popular brands such as Zara, Massimo Dutti, Bershka, and others, left Russia.
As of January 1, 2025, 467 companies have completed their withdrawal from Russia since the full-scale invasion in February 2022. According to KSE Institute estimates, in 2021, they generated $105 billion in revenue (32.8% of all foreign companies’ revenue) and paid taxes of about $6 billion (23.3% of all taxes paid by foreign companies before the invasion).
According to KSE Institute estimates, in 2021, these companies generated $105 billion in revenue, accounting for 32.8% of all foreign companies’ revenue, and paid taxes of about $6 billion, accounting for 23.3% of all taxes paid by foreign companies before the invasion.
How many companies continue to operate in Russia
More than 1,300 companies have announced their intention to leave Russia, but have not yet completed the process. Some of them have partially sold their businesses, while others have started bankruptcy proceedings or faced nationalization of assets. For example, this recently happened to the beer giant Anheuser-Busch.
Overall, only 11.5% of companies have completed a full exit from Russia. About 33.5% have suspended or announced the termination of operations, while the remaining 55% still remain on the Russian market.
At the same time, despite the significant business exodus, more than 2,220 companies continue to operate in Russia.
Among them are such major corporations as Philip Morris, Japan Tobacco International, PepsiCo, Raiffeisen Bank, Mars, Nestlé, Metro, Mondelez, Coca-Cola and others. Their activities continue to support the Russian economy.
A detailed list of companies, their statuses and changes are available on the Leave Russia platform.
