KSE Institute and the global coalition B4Ukraine strongly condemn the Italian company Ariston for returning to the Russian market after agreeing to the Kremlin’s terms for revoking its decree on nationalizing the company’s assets. This decision demonstrates a сonscious willingness to fund a state that systematically violates international law and commits war crimes in Ukraine.
Ariston’s move disregards the human toll of Russia’s unprovoked aggression and helps normalize the war. The return signals acceptance of the Kremlin’s Partial Mobilization Order, which compels corporations to support Russia’s war effort — making Ariston potentially complicit in enabling an illegal war and occupation.
We call on Ariston to demonstrate public support for Ukraine, opposition to Russia’s continued war of aggression, and alignment with the international guidelines on responsible corporate behavior.
We call on international companies to stay out of Russia until Ukraine’s sovereignty and territorial integrity are fully restored, reparations are made, and accountability for war crimes and crimes against humanity is enforced.
“This is a demonstration of an approach that has already cost many international businesses dearly in Russia. By agreeing to the Kremlin’s terms for revoking its decree on the nationalization of the company’s assets, Ariston effectively normalizes expropriation, additional taxation, and forced support for Russia’s war effort. Doing business with an aggressor state means willingly financing further crimes and exposing oneself to a galaxy of financial, legal, and reputational risks,” notes Andrii Onopriienko, Deputy Director for Development at KSE and Head of the LeaveRussia Project.
“Ariston’s return makes its brand strongly associated with Russia’s war crimes. At a time when Russia consistently seizes foreign companies, builds up military resources, and refuses to end its armed aggression, making a return deal with the Kremlin both practically reckless and morally reprehensible,” emphasized Nezir Sinani, Executive Director of B4Ukraine.
According to the KSE Institute and the LeaveRussia project, foreign companies have sustained $170 billion in direct losses in Russia due to asset write-downs, expropriation, unfair court rulings, and “exit taxes.” At the same time, research published by B4Ukraine in collaboration with KSE and the Squeezing Putin initiative shows that foreign companies paid more than $41 billion in taxes to the Russian budget between 2022 and 2023. This amount could increase by an additional $20 billion in 2024, directly supporting Russia’s war economy.