German businesses paid a combined USD 402 million to Kremlin coffers in corporate income tax last year, Poland's biznesalert.pl website reported, citing Germany's Frankfurter Allgemeine Zeitung (FAZ) newspaper.
According to biznesalert.pl, "two-thirds of German investors" have remained in Russia despite Moscow’s invasion of Ukraine in February last year.
These include top brands such as the food-service company Metro, energy provider Uniper, healthcare and agriculture conglomerate Bayer, car maker BMW and cheese maker Hochland, biznesalert.pl said.
Last year, German investors in Russia posted sales of USD 23.2 billion, paying USD 402 million in corporate income tax, biznesalert.pl reported this week, citing German public broadcaster Deutschlandfunk.
'Business as usual'
Following Russia’s full-scale assault on Ukraine in February 2022, most Western companies declared they would leave the Russian market, biznesalert.pl reported.
However, some of these firms failed to act on their pledges to pull out of Russia, according to business analysts.
This is documented in a widely shared hall of shame, a list compiled by America’s Yale University to show which of the world’s companies halted their operations in Russia, and which “threw up a smokescreen by making refugee donations but continuing their business as usual,” the authors said.
Russia invaded Ukraine on February 24, 2022, launching the largest military campaign in Europe since World War II.
Thursday is day 498 of Russia’s war on Ukraine.
(pm/gs)
Source: biznesalert.pl, fortune.com, som.yale.edu