US giants revealed to create the largest source of revenue for Russia

Khánh Minh |

US companies still pay billions of dollars in taxes, generating a large source of revenue for Russia.

Major US corporations operating in Russia paid $1.2 billion in taxes to the Russian state in 2023, according to Newsweek data. Newsweek reports that more than 300 US companies are still operating in Russia.

The above figures are provided to Newsweek by B4 Ukraine. B4 Ukraine is a group of Ukrainian-funded non-governmental organizations that have spent three years urging Western companies to cut off relations with Russia.

According to this group, the 5 companies that pay the most profitable taxes to Russia in 2023 are Philip Morris International (220 million USD), PepsiCo beverage company (135 million USD), Mars confectionery company (99 million USD), Procter & Gamble sanitary and health consumer goods company (67 million USD) and Mondelez confectionery company.

According to B4 Ukraine's previous report, US companies paid a total of $1.2 billion in taxes to the Russian state in 2023, up from $712 million in 2022. The contributions of these companies have made the US the country with the largest source of foreign taxes paid to the Russian budget.

Although a series of Western companies have stopped operating in Russia following the escalation of the Ukrainian conflict in 2022, there are still about 123 large US companies staying in Russia, according to research from the Yale School of Management. When considering small and medium-sized enterprises, Yale estimates that there are about 328 US companies operating in Russia.

In addition to pressure campaigns organized by organizations like B4 Ukraine, Western sanctions have forced some companies out of the Russian market.

British consumer goods giant Unilever withdrew from Russia last October, when CEO Hein Schumacher complained that the company had difficulty moving cash out of Russia and had encountered problems reviewing financial results and controlling the way it managed its brands.

Under divestment rules issued by the Russian government last year, companies leaving Russia must seek government permission to sell and are required to sell their assets at a 50% discount and pay divestment taxes from 10% to 15%.

From February 2022 to December 2023, companies selling business activities in Russia lost a total of 103 billion USD, the New York Times reported, citing financial records. The newspaper also added that these companies have also paid at least $1.25 billion in divestment taxes to the Russian state.

Khánh Minh
TIN LIÊN QUAN

New route to supply Russian gas to EU member

|

President Putin pledged to continue supplying Russian gas to Slovakia without going through Ukraine.

EU spends Ukraine billions of euros on frozen Russian assets

|

Using frozen Russian asset interest, the EU disbursed the first 3 billion euros to Ukraine from the G7 loan package.

US sanctions on Russian oil, world market shakes

|

Immediately after the US imposed comprehensive sanctions on Russia's oil industry, the immediate consequences occurred.

Behind the bottle of fake Ofood cooking oil is a sophisticated legalization and fraud system

|

Counterfeit oil is not simply an act of commercial fraud, but a "silent attack" on social trust and the minimum safety of people's meals.

Hanoi boy writes lettering like printing on a thin seaweed fabric

|

Instead of writing calligraphy on paper and silk, Chau Viet Ut (28 years old, Hanoi) chose to "pince" on fabric. His elaborate work has made the online community admire him.

Hundreds of 4-wheeled electric vehicles at Sam Son beach serve tourists again

|

Thanh Hoa - From July 2, hundreds of 4-wheeled electric vehicles in the Sam Son coastal area will return to serve tourists.

Dak Lak people are excited when a large whale appears in Mui Dien

|

Dak Lak - A large whale appeared in the sea area of Hoa Xuan commune, Dak Lak province.

Look up the fastest 10th grade entrance exam scores in 2025 in Hanoi

|

The Hanoi Department of Education and Training (DET) plans to announce the 10th grade entrance exam scores for the 2025-2026 school year on July 4.

New route to supply Russian gas to EU member

Khánh Minh |

President Putin pledged to continue supplying Russian gas to Slovakia without going through Ukraine.

EU spends Ukraine billions of euros on frozen Russian assets

Song Minh |

Using frozen Russian asset interest, the EU disbursed the first 3 billion euros to Ukraine from the G7 loan package.

US sanctions on Russian oil, world market shakes

Song Minh |

Immediately after the US imposed comprehensive sanctions on Russia's oil industry, the immediate consequences occurred.