The corporation continues to work in Russia, pays taxes to the country’s budget and even contributes to mobilization measures, evidence of this was provided by the Economic Security Council to the NAPC. This became the basis for including the company in this list.
Although back in March 2022, the company announced a reduction in the range in the Russian market of health and hygiene products. And in August, information appeared that P&G was no longer investing in business development in Russia.
However, on the territory of the aggressor country, a household chemicals plant, the world’s largest manufacturer of detergents for P&G, and a plant for the production of blades and Gillette razors continue to operate. So the corporation continues to make money on the Russian market and contribute to the state budget of the aggressor country.
In 2021 alone, the company paid about $5.2 million in tax revenue and other payments. The company also provides jobs for about 2.5 thousand Russians.
After its announcement of a decrease in its presence in Russia in March last year, P&G raised prices for its own products in Russia by 40%. Thus, the company almost leveled the loss of income from the reduction of the brand portfolio.
The SEB notes that, according to the company’s report for 2022, due to such an increase in product prices, the company’s organic sales in Russia increased.
The company also contributes to mobilization, because according to the legislation of the Russian Federation, corporations operating in Russia are forced to participate in mobilization activities, facilitate the conscription of employees into the army and finance their military equipment.
Procter & Gamble owns the following subsidiaries and brands:
Gillette, Fairy, Tide, Ariel, Lenor, Mr. Proper, Pampers, Always, Head & Shoulders, Pantene, Old Spice, Hugo Boss, Max Factor and others.