Ukrainian President Volodymyr Zelensky criticized Nestle Saturday for not taking enough action to punish Russia for its invasion of Ukraine, and the company leads a small but powerful list of multinational companies maintaining Russian business operations.
Multinational companies such as the French car maker are sticking by their business in Russia.
During a video address to a rally in Switzerland, Zelensky criticized Swiss food giant Nestle for continuing to sell goods in Russia, even though children are dying and cities are being destroyed.
Koch Industries, the American conglomerate that ranks as the second-largest private company in the U.S., is estimated to have annual revenue of $115 billion.
According to a widely cited list compiled by a Yale University professor, at least 36 other companies have refused to scale back their Russian business operations.
Credit Suisse is one of the large firms that has not pulled out of Russia.
The company has roughly 40,000 employees in Russia and accounts for about a third of the Russian car market, but it has not announced any changes to its business.
Pfizer and Glaxo said this week that they will not begin new clinical trials in Russia.
Several notable companies announced changes to their Russian business dealings after getting attention last week for not doing so as hundreds of other companies announced changes to their business in the country. Citigroup will expand the scope of its exit from Russia beyond its previously announced exit from consumer banking in the country. The suspension of manufacturing in the country was announced this week by both tire makers.
Zelensky had avoided singling out individual companies for their Russian business dealings until last Sunday, when he called on technology giants to roll back their operations in Russia. The money of the people who unleashed this war is in your banks, said Zelensky in his Saturday speech. Zelensky didn't name Credit Suisse or other banks, but you should help fight this. Swiss banks hold up to $215 billion of Russian money in offshore accounts, according to the Swiss Bankers Association.
Multinationals are continuing their sales in Russia.
Here are the companies that are cutting ties with Russia.
Zelensky Presses Companies to Punish Russia.
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