The eruption of the biggest military conflict in Europe since the second world war has shocked the investors. Moscow’s stock market was hit by one of the biggest collapses in financial history this week after President Vladimir Putin launched an invasion of Ukraine to seize power.
The European Union is Russia’s largest trading partner, accounting for 37% of Russia’s global trade in 2020. Much of that is energy: About 70% of Russian gas exports and half of its oil exports go to Europe.
And while sales to Russia represent just around 5% of Europe’s total trade with the world, for decades, it has been a key destination for European brands in a range of industries, including finance, agriculture and food, energy, automotive, aerospace and luxury goods.
Here is the list of famous Russian brands that are going to be most affected because of conflict. A few of these may not be affected immediately, but their destiny may not be very bright in the coming Here is the list of Russian brands that are going to be most affected because of the conflict. A few of these may not be affected immediately, but their future may not be very bright in the coming times.
1. SBERBANK – Sberbank is a state-owned Russian banking and financial services company headquartered in Moscow. The company was known as “Sberbank of Russia” until 2015. Sberbank has operations in several European nations, primarily post-Soviet countries.
2. GAZPROM – Gazprom is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over US$120 billion, it sat as the largest publicly-listed natural gas company in the world and the largest company in Russia by revenue.
3. LUKOIL – Lukoil Oil Company is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, and petroleum products.
4. ROSNEFT – Rosneft Oil Company is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products.
5. MAGNIT – Magnit is one of Russia’s largest food retailers. It was founded in 1994 in Krasnodar by Sergey Galitsky. As of March 2016, the company had 12,434 stores in 2,385 locations. They include 9,715 convenience stores, 225 hypermarkets, 2,337 Magnit Cosmetics stores and 157 Magnit family stores.
6. SURGUTNEFTEGAS – Surgutneftegas is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The company’s headquarters are located in Surgut, Khanty-Mansi Autonomous Okrug.
7. VTB BANK – VTB Bank is a Russian state-owned bank headquartered in various Federal districts of Russia; its legal address is registered in St. Petersburg; as of 2022 company’s capital stock was mostly owned by three Russian agencies.
8. MTS – MTS, headquartered in Moscow, is the largest mobile network operator in Russia, operating on GSM, UMTS and LTE standards. Apart from the cellular networks, the company also offers local telephone services, broadband, mobile television, cable television, satellite television and digital television.
9. TATNEFT – Tatneft is a Russian vertically integrated oil and gas company with headquarters in the city of Almetyevsk, Republic of Tatarstan, Russian Federation. It is the fifth-largest oil company in Russia and the eighth largest listed company in Russia by market capitalization.
10. NOVATEK – Novatek is Russia’s second-largest natural gas producer, and the seventh-largest publicly-traded company globally by natural gas production volume. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a sales office in Moscow.