Since 2022, Italian companies operating in Russia have paid over €1 billion in taxes, approximately half of which has been directed to military spending, according to data from the Kyiv School of Economics’ ‘Leave Russia’ project.
The project tracks multinational companies still active in Russia, classifying them by country, sector, and operational status. Around 146 Italian firms remain active, with roughly 30 planning to exit and 70 maintaining a legal presence. Major companies still operating include Ferrero, Barilla, and Calzedonia, while Enel, Eni, and Moncler have ceased operations.
While Italy ranks among European countries with the highest number of active operations, the United States maintains even larger commercial footprints, with 810 companies respectively.
German firms also maintain a significant presence. Data compiled by KSE, B4Ukraine, and the ‘Squeezing Putin Initiative’ shows that 250 German companies continue operations in Russia, paying nearly €1.72 billion in taxes since 2022. These companies produce goods such as dairy, building materials, and consumer products.
Some business activities occur in grey areas, including trade routed through third countries or products not listed under EU sanctions. Carolina Stefano, professor of Russian history and politics at Luiss University, explains that this allows companies to continue trading legally, though often at higher costs due to taxes or import fees.
Differences in exit costs and sanction enforcement across EU countries have created varying experiences among companies, with some firms reporting they were not consulted prior to sanctions.
Rebeka Kis is a fifth-year law student at the University of Pécs. Her main interests are politics and history, with experience in the EU’s day-to-day activities gained as an intern with the Foundation for a Civic Hungary at the European Parliament.
