12 international companies fully left Russia in June. This is far too little progress!
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German technology group Bosch, French tyre maker Michelin, and U.S. industrial conglomerate 3M are amongst only 12 global firms that departed from Russia in June, according to the Kyiv School of Economics (KSE) monitoring.

The list also includes companies such as Brenntag, Camso, Hyve Expo International, Johnson Matthey, LANXESS, Mammoet, Pilkington (NSG Group), TJX Companies, and WABCO Holdings.

From agricultural sciences companies to online dating services, hundreds of businesses halted operations in Russia last year, but the pace of exits has now slowed significantly.

Out of 1,387 Western companies with Russian subsidiaries at the start of the full-scale invasion, only 255 have completely exited Russia. The majority of companies (56%) monitored by the KSE are committed to doing business in Russia.

In 2022, global corporations — including those that have exited since the war — made over $213.9 billion in revenues through their local Russian businesses and paid $3.5 billion in profit taxes. This is only the tip of the iceberg and likely a substantial underestimate of the total tax bill.

This is far too little progress!

B4Ukraine calls on G7, EU, and Swiss governments to urge their businesses to cut ties with Russia and issue market guidance advisories to warn of the heightened risks of continuing business there.

The ongoing corporate complicity in Russian aggression and crimes against humanity must be stopped. Access to the economic resources behind Russian aggression must be blocked.

See our list of recommendations for companies and governments.

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