Podolyak: only 9% of western companies have stopped doing business in russia

Mykhailo Podolyak, an adviser to the head of the Office of the President of Ukraine, wrote on Saturday that only 9% of the 1,500 Western companies that had been operating in Russia had left the Russian market during the year of war.

Source. He wrote this in his telegram channel.

Details. According to Podolyak, most of the companies that remained in Russia were German (19.5%), followed by American (12.4%), and then Japanese (7%).

Podolyak lists many companies that still operate in Russia, and especially highlights the Austrian bank Raiffeisen, whose profits in Russia, according to him, have grown by 313%.

"Working in Russia, international companies pay taxes to the Russian state budget, which are used to manufacture products for the defense industry. The total annual revenue of these 1200+ companies in Russia is almost $290 billion. This is a fifth of Russia's GDP," writes the advisor to the head of the Office of the President of Ukraine.

Ukraine's allies have imposed wide-ranging sanctions against Russia, but have not banned work in Russia entirely.

Podolyak emphasizes the moral, not the formal, side of the matter.

"Passive inaction is also a crime. By replenishing the Russian budget with billions of dollars, they are preventing the war from ending quickly and correctly [...] The collective West, whose market is a priority for international corporations, must take a tough stance. Ultimately, each actor in this party must decide whether to declare values on paper or to act. Silence kills. Literally," writes Mykhailo Podoliak.