Many foreign companies, including those from the West, continue to receive billions of rubles in Russia, despite sanctions and calls to boycott the country led by Vladimir Putin because of the war in Ukraine, Forbes Russia reports.

AuchanPhoto: Wojciech Stryk / Alamy / Profimedia Images

The most profitable foreign company in Russia in 2023 is the French giant Leroy Merlin with a total revenue of 529.7 billion rubles (about 5.185 billion euros).

It is followed in the ranking by two tobacco manufacturers Japan Tobacco International (revenue 432.6 billion rubles) and the American company Philip Morris International (399.9 billion rubles).

The top 10 of the rating are completed by:

  • PepsiCo – 303.3 billion rubles;
  • Auchan – 292.6 billion;
  • VEON (Dutch telecommunications company) – 286.4 billion;
  • Metro Cash & Carry – 223.6 billion;
  • Mars – 201.4 billion;
  • Nestlé Russia – 195 billion;
  • Chery Automobile (Chinese car manufacturer) – 147.5 billion rubles.

Famous names from the West are on the list of companies that have remained in Russia

Other big names on the Forbes 50 list:

  • Hyundai Motor (15th place) – 115.6 billion rubles;
  • Danone (16) – 112.7 billion;
  • Kia (17) – 111.3 billion;
  • Procter & Gamble (18) – 107.9 billion;
  • Bayer (25) – 86.5 billion;
  • Unilever (26) – 84.9 billion;
  • Johnson & Johnson (32) – 77.2 billion;
  • Novartis Pharma (34) – 68.6 billion;
  • Sanofi (40) – 63.8 billion;
  • Haier Appliances (42) – 62.8 billion;
  • L’Oréal (43) – 60.2 billion;
  • AstraZeneca (45) – 53.7 billion;
  • Ferrero (47) – 50.9 billion;
  • Beko (50) – 48.2 billion.

The list includes companies, more than 50% of which were owned by non-Russian citizens and organizations until September 20, 2023.

Forbes did not include banks, insurance and leasing companies, investment funds and other financial companies in the rating. This explains why, for example, Raiffeisen Bank is not on the list, although it recorded a record profit in Russia in the first half of the year.

Both the United States and the European Union have increased their pressure on Raiffeisen to leave Russia this year. The Austrian bank continues to assure that it intends to do so, although it has been delaying the process for more than a year.

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