Ukraine will on Friday scrap its “war sponsor” blacklist, a central part of its campaign to pressure companies that do business in Russia, after a backlash from countries ranging from Austria to China, two people familiar with the matter told Reuters. business

Abandoning the blacklist, which has barred some 50 major companies operating in Russia and indirectly aiding the Kremlin in its war in Ukraine, is a step backwards for Kyiv as it seeks to preserve fragile international support.

Critics say the information campaign was aggressive and biased, while supporters say it showed how the industry remained loyal to Moscow.

They said Ukraine would abandon not only the list but also the associated website, which contains detailed information on Western-sanctioned individuals, companies and the origin of Russian weapons.

B4Ukraine, a coalition of civil society groups, said the disappearance of the list was disappointing and that most governments had done too little to pressure companies to cut ties with Russia.

Karin Doppelbauer, an Austrian lawmaker from the liberal Neos party, criticized the government in Vienna for pushing to block the list.

“The government needs to understand that any pleasant relationship with Putin is over,” she said.

While some companies have changed the course of their business dealings with Russia as a result of the listing, most have expressed outrage and sometimes used political pressure to get off the blacklist.

The closing of the list on Friday coincided with Russia’s largest airstrike on Ukrainian energy facilities to date.

A drone missile strike hit a huge dam across the Dnipro River, killing at least five people and leaving more than a million others without power, prompting Kyiv to call in emergency power supplies from Poland, Romania and Slovakia, Kyiv officials said. (photo: DreamsTime / Stanislav Okulo)

What large Western companies have remained in Russia?

Numerous foreign companies, including from the West, continue to raise billions of rubles in Russia despite sanctions and calls for a boycott of the country led by Vladimir Putin over the war in Ukraine, Forbes Russia reported in October 2023.

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.

On the same topic:

• Hungary’s pressure succeeded: Ukraine excluded OTP Bank from the list of “war sponsors”