Just 17 of the world’s 122 biggest firms have pulled out of Russia since the invasion of Ukraine
Only 17 of the world’s 122 biggest firms have pulled out of Russia because it invaded Ukraine – with Unilever, BP and HSBC all nonetheless working there.
A 12 months after Vladimir Putin launched his bloody assault, 59 firms have made solely ‘partial withdrawals’ – shutting down bits of their companies in Russia.
And 46 ‘hardcore’ corporations have refused to downsize in any respect, based on a report by the Moral Rating Agency (MRA).
A 12 months after Vladimir Putin launched his bloody assault, 59 firms have made solely ‘partial withdrawals’ – shutting down bits of their companies in Russia
The watchdog, which was set as much as monitor corporations working in Russia throughout the battle, stated these nonetheless buying and selling in the nation are ‘facilitating Putin’s invasion’.
US anti-corruption campaigner Bill Browder stated corporations buying and selling there ‘profit Putin and result in the loss of life of harmless Ukrainians’.
Among firms that have not, based on the MRA, ‘moved an inch’ and exited Russia have been shopper items large Unilever.
In March it pledged to droop all imports and exports of its merchandise into and out of Russia. But it has since emerged it nonetheless sells Magnums and Cornettos in the nation.
It reported £147m of revenue in Russia final 12 months, which was branded ‘blood cash’.
The MRA’s report, launched on the anniversary of Putin’s invasion, additionally criticised UK-based financial institution HSBC and oil large BP.
Browder stated: ‘Western corporations that do proceed to do enterprise in Russia need to lose their Western buyer base.’
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