Which Companies Are Still Trading With Russia?

Here is a list of companies that have not yet stopped trading with Russia, despite the sanctions.

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UK companies

Despite the sanctions, UK companies are still trading with Russia. The UK government has urged companies to stop trading with Russia, but many are still doing it. This is because the UK government does not have the power to stop companies from trading with Russia. Only the EU can do that.

British American Tobacco

British American Tobacco (BAT) is a British multinational tobacco company headquartered in London, United Kingdom. It is the largest publicly traded tobacco company in the world. BAT has a market-leading position in over 50 countries and operations in around 180 countries.


GlaxoSmithKline (GSK) is a British pharmaceutical company headquartered in Brentford, London. Established in 2000 by a merger of Glaxo Wellcome and SmithKline Beecham, GSK was the world’s sixth largest pharmaceutical company as of 2015, after Pfizer, Novartis, Merck, Hoffmann-La Roche and Sanofi.


Diageo is a British multinational alcoholic beverages company, with its headquarters in London, England. It is the world’s largest producer of spirits and a major producer of beer and wine. The company operates in over 180 countries and sells its products in over 150 of them. Diageo’s brands include Johnnie Walker, Guinness, Smirnoff, J&B, Baileys, Cuervo, Tanqueray and Captain Morgan.

US companies

Russia is a large market for many US companies, and some have been doing business there for decades. American companies have been pulled out of Russia before, during the Soviet Union era and more recently during sanctions following Russia’s annexation of Crimea. Despite the risks, some companies continue to trade with Russia.


ExxonMobil is one of the largest publicly traded international oil and gas companies. They hold an industry-leading inventory of resources and are one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers. As of 2018, they have operations in more than 70 countries and approximately 78,000 employees.

In 2014, ExxonMobil made a $500 million deal with Rosneft, Russia’s largest oil company, to explore for oil in the Arctic. This was ExxonMobil’s first major investment in Russia since the country’s 1998 financial crisis. The project was put on hold in 2015 due to sanctions against Russia, but it resumed in 2017.


Boeing is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, and satellites worldwide. The company also provides leasing and product support services. Boeing is among the largest global aircraft manufacturers; it is the fifth-largest defense contractor in the world based on 2018 revenue, and is the largest exporter in the United States by dollar value.

General Electric

GE (General Electric) is a diversified technology, media and financial services company headquartered in Fairfield, Connecticut. The company has operations in more than 100 countries and employs more than 300,000 people worldwide. GE is organized into four business segments: Energy Infrastructure, Technology Infrastructure, Capital Finance and Consumer & Industrial. The company’s products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products.

In 2013, GE had revenue of $146.4 billion and ranked sixth on the Fortune 500 list of largest U.S. corporations by total revenue. The company is one of the few that have survived from the original Dow Jones Industrial Average index of 1896.

GE has been active in Russia since the early 1990s and has been involved in a number of major projects in the country, including the construction of power plants, railway locomotives and medical equipment. In 2012, GE entered into a joint venture with Russian state-owned oil company Rosneft to develop Arctic offshore oil resources. The following year, GE agreed to provide $1 billion worth of equipment to support the development of Russia’s Shale oil industry.

European companies

The European companies still trading with Russia are doing so despite the costs and risks involved. These companies have found that the rewards outweigh the risks, and they are willing to continue doing business with Russia. The following paragraphs will detail some of the advantages and disadvantages of trading with Russia.


Siemens AG is a German multinational conglomerate company headquartered in Berlin and Munich. It is the largest industrial manufacturing company in Europe with branch offices abroad.


Airbus is a leading airliner manufacturer with almost 12,000 aircraft delivered to over 400 airlines worldwide. It has assembly and production sites in Europe, America, Asia and Africa and has created more than 140,000 direct and indirect jobs since it was set up in 1970. The company is headquartered in Toulouse, France.

The group’s product line includes the A320 family of single-aisle jetliners, the A330 wide-body twinjet, the A350 XWB wide-body triple-engine jetliner, the A380 superjumbo four-engine jetliner, the single-aisle turboprop commuter ATR72 and long-range corporate jet ACJ330.

In 2013, Airbus delivered 626 commercial aircraft for a total value of $99.5 billion. The order backlog stood at $763 billion at the end of 2013, providing visibility for over 8 years of future production.


BMW is a German multinational company which produces luxury vehicles and motorcycles. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 until 1918 and again from 1933 to 1945. In 2015, BMW was the world’s twelfth-largest producer of motor vehicles, with 2,279,503 vehicles produced. The company has significant motorsport history, especially in touring cars, Formula 1, sports cars and the Isle of Man TT. BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, South Africa and the United Kingdom. The Quandt family is a long-term shareholder (with the remaining shares owned by public float), following brothers Herbert and Harald Quandt’s investments in 1959 which saved the company from bankruptcy.

Russian companies

Despite the political tensions between the UK and Russia, there are still many British companies doing business with Russian firms. According to a recent report, the UK exported £6.7 billion worth of goods to Russia in 2017. This is a significant increase from 2016, when exports were £4.4 billion. The top exports from the UK to Russia include machinery, vehicles, and chemicals.


Gazprom is a Russian state-owned energy company. It is the largest producer of natural gas in the world and supplies gas to over 90 countries. The company also has interests in oil, power generation and heat. Gazprom is on the list of Russia’s major state-owned companies known as “Gazprom Neft”.


Lukoil is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of exploration, production, refining and marketing of oil, gas and other energy resources. It is the second largest public oil and gas company in Russia and the largest in the world outside of the state-owned companies. Lukoil was created on December 10, 1991 with the merger of three state-owned companies: Langepasneftegaz, Uraiipgneftegaz and Kogalymneftegaz.


Rosneft is a Russian oil and gas company, founded in 1998. It is one of the largest public companies in the world, with over $250 billion in assets. The company produces oil and gas, and has operations in over 60 countries. It is majority owned by the Russian government, with a small stake held by BP.

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