Almost four years since Russian President Vladimir Putin ordered the 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 in February that year.
Since then, many French corporate giants, such as Société Générale, LVMH and Safran, have withdrawn from the Russian market, either because of the difficulties of doing business in a heavily sanctioned country or because of the potential PR disaster if they had decided to stay.
But some of the companies that remain are major players — 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 eighth place with $3.3 billion (€2.9 billion).
Activists take part in a protest outside an outlet of French home improvement retailer Leroy Merlin in Warsaw, 7 May, 2022 AP Ph
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