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 since it invaded Ukraine – with Unilever, BP and HSBC all still operating there.
A year after Vladimir Putin launched his bloody assault, 59 firms have made only ‘partial withdrawals’ – shutting down bits of their businesses in Russia.
And 46 ‘hardcore’ companies have refused to downsize at all, according to a report by the Moral Rating Agency (MRA).
A year after Vladimir Putin launched his bloody assault, 59 firms have made only ‘partial withdrawals’ – shutting down bits of their businesses in Russia
The watchdog, which was set up to track companies operating in Russia during the war, said those still trading in the country are ‘facilitating Putin’s invasion’.
US anti-corruption campaigner Bill Browder said companies trading there ‘benefit Putin and lead to the death of innocent Ukrainians’.
Among firms that have not, according to the MRA, ‘moved an inch’ and exited Russia were consumer goods giant Unilever.
In March it pledged to suspend all imports and exports of its products into and out of Russia. But it has since emerged it still sells Magnums and Cornettos in the country.
It reported £147m of profit in Russia last year, which was branded ‘blood money’.
The MRA’s report, released on the anniversary of Putin’s invasion, also criticised UK-based bank HSBC and oil giant BP.
Browder said: ‘Western companies that do continue to do business in Russia deserve to lose their Western customer base.’