More than three-and-a-half years after Russian President Vladimir Putin ordered a full-scale invasion of Ukraine, 23 French companies continue to operate in Russia.
That's just under a third of the 75 firms that were active in the country at the beginning of 2022, before the invasion of Ukraine in February that year.
Since then, many French corporate giants - such as Société Générale, LVMH and Safran — have withdrawn, either under pressure from sanctions or to protect their reputations.
Yet some of the companies that remain are heavyweights, and business is booming.
Two French corporations are in the top 20 in terms of revenue in Russia in 2024, according to a recent report by B4Ukraine, a global coalition of civil society organisations.
DIY retailer Leroy Merlin ranked third with $6.8 billion (€5.9 billion) in revenue last year, while supermarket group Auchan was in eight place with $3.3 billion (€2.9 billion).
Meanwhile, in terms of profit tax paid to Moscow, Leroy Merlin came in fifth place with $128 million (€111 million) while cosmetics giant L'Oreal was 17th w
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