On June 26-28, 2022, the leaders of the seven world’s largest advanced economies will meet at the G7 Summit 2022. Germany, which took over the G7 Presidency this year, will host the meeting at Schloss Elmau in Bavarian Alps. Representing only 1/10 of the world population, altogether they generate around 40% of global GDP. Though the leaders of the G7 cannot pass any laws, their decisions can affect the entire world, including the course of Russia’s war in Ukraine.
Condemning the unprovoked war Russia has waged against Ukraine, G7 governments have imposed on Russia the most extensive package of sanctions ever imposed on a large economy. Unfortunately, the businesses in the G7 countries haven’t followed their lead.
According to the KSE Institute data, over 600 companies that originate from the G7 countries keep doing business in or with Russia currently, either on a full scale or having partially reduced their operations and held off new investments. The available information shows at least 790,000 people work for such enterprises. Thus, the companies keep supporting the Russian economy and providing Russia with funding to continue the war in Ukraine by paying corporate and payroll taxes there.
The G7 Summit is a good opportunity to remind world leaders that this issue needs particular attention as well. Share to make the companies #StopFundingTheWar!