Numerous foreign companies, including from the West, continue to collect billions of rubles in revenue in Russia, despite sanctions and calls to boycott the country led by Vladimir Putin over the war in Ukraine, it shows Forbes Russia.
AuchanPhoto: Wojciech Stryk / Alamy / Profimedia Images
The top-grossing foreign company in Russia so far in 2023 is French giant Leroy Merlin, with total revenues of 529.7 billion rubles (about 5.185 billion euros).
It is followed in the ranking by two tobacco producers, Japan Tobacco International (revenues of 432.6 billion rubles) and the American company Philip Morris International (399.9 billion rubles).
The top 10 ranking is completed by:
- PepsiCo – 303.3 billion rubles;
- Auchan – 292.6 billion;
- VEON (Dutch telecommunications company) – 286.4 billion;
- Metro Cash & Carry – 223.6 billion;
- Mars – 201.4 billion;
- Nestlé Russia – 195 billion;
- Chery Automobile (Chinese car manufacturer) – 147.5 billion rubles.
Big names from the West, on the list of companies that remained in Russia
Other big names on the Forbes 50 list are:
- Hyundai Motor (15th position) – 115.6 billion rubles;
- Danone (16) – 112.7 billion;
- Kia (17) – 111.3 billion;
- Procter & Gamble (18) – 107.9 billion;
- Bayer (25) – 86.5 billion;
- Unilever (26) – 84.9 billion;
- Johnson & Johnson (32) – 77.2 billion;
- Novartis Pharma (34) – 68.6 billion;
- Sanofi (40) – 63.8 billion;
- Haier Appliances (42) – 62.8 billion;
- L’Oréal (43) – 60.2 billion;
- AstraZeneca (45) – 53.7 billion;
- Ferrero (47) – 50.9 billion;
- Beko (50) – 48.2 billion.
The list includes companies owned more than 50% by non-Russian citizens and entities until September 20, 2023.
Forbes did not include banks, insurance and leasing companies, investment funds and other financial companies in the ranking. That explains why Raiffeisen Bank, for example, does not appear on the list, even though it posted a record profit in Russia in the first half of the year.
Both the United States and the European Union have this year stepped up their pressure on Raiffeisen to leave Russia. Austrian bank still gives assurances that they intend to do so, although they have been dragging out the process for more than a year.
Follow the latest developments from the 586th day of the war in Ukraine LIVETEXT on HOTNEWS.RO.
