Most Multinationals Remain in Russia and Fund Putin’s Invasion of Ukraine

Original Author: Diane Francis
Publication: Atlantic Council
Published Date: 18/09/2024

According to research by the activist group B4Ukraine, a coalition of Ukrainian and international civil society organizations, three-quarters of the most profitable foreign multinationals remain in Russia.

In addition to calling on multinationals to leave Russia, Ukrainian organizations are also asking companies doing business in Russia to perform their own human rights due diligence. “Value chain analysis reveals that significant investments, joint venture operations, and support services of multinational companies continue apace, especially in at-risk industries like oil and gas, consumer goods, and banking. Most of these are the same companies that claim to abide by the UN Guiding Principles for Business and Human Rights (UNGPs) and its call for human rights due diligence. Unfortunately, it’s the diligence that’s lacking,” explained Richard Stazinski, Executive Director of the Heartland Initiative.

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