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US Companies Pay Over $1 Billion in Taxes to Russia Amid Ongoing Ukraine War (www.newsweek.com)

submitted 7 months ago by Aussieiuszko@aussie.zone to c/world@quokk.au

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American firms in Russia paid the country $1.2 billion in profit taxes in 2023, according to figures from campaign group B4Ukraine and the Kyiv School of Economics (KSE) Institute shared exclusively with Newsweek. This tax contribution makes the U.S. the largest contributor of foreign profit taxes to Russia, something a former top U.S. diplomat called "shameful."

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[–] TachyonTele@lemm.ee 3 points 7 months ago* (last edited 7 months ago) (2 children)

Apparently it's all about exports out of russia. Western countries have blocked importing russian goods, and frozen any assests russia has internationally.

Only companies that are blocked are the defense contractors. A lot of companies voluntarily pulled operations out of russia. It's not mandatory though. Certian banking systems are completely frozen, which looks to be the hardest sanction.

But i admit to really just reading up on it. I thought it was a lot more expansive than it is.

[–] southsamurai@sh.itjust.works 2 points 7 months ago (1 children)

That's what I thought, though I could have sworn there were more than just defense contractors barred from exporting to Russia.

[–] TachyonTele@lemm.ee 2 points 7 months ago

Same. All of the news reports made it sound like the country couldn't get anything in or out.