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The Conversation
The Conversation
Renaud Foucart, Senior Lecturer in Economics, Lancaster University Management School, Lancaster University

Western firms still doing business in Russia finance the war – here's how to recoup the huge cost to taxpayers

Russia United States Unilever Cornetto PepsiCo United Kingdom European Union Ukraine OECD
eamesBot/Shutterstock

In Russia this summer, you can still enjoy a Cornetto, but you can forget about eating a Tunnock’s tea cake or a Big Mac. This is because Cornetto’s UK-headquarted parent company, Unilever, is still operating in Russia after its invasion of Ukraine, alongside many other western firms such as PepsiCo.

While lots of firms, including McDonald’s and the Scottish confectionery maker Tunnock’s, have cut business ties with the country since the war started, the Kyiv School of Economics estimates western companies still operating in Russia made over US$213.9 billion (£168.2 billion) in revenues in 2022.

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