Companies in Russia - statistics & facts
The market exit of several major Western companies in response to the Russia-Ukraine war has negatively contributed to Russia's business climate. Moreover, international sanctions directly targeted various Russian companies, including Rosneft, RT, Sberbank, and the United Aircraft Corporation. Russia country has seen a decline in active enterprises in recent years, even before the coronavirus (COVID-19) pandemic, which most significantly hit industries like air transportation and cinemas. Even though new business registrations are increasing gradually, they are still lower than company closures, which stood at around 238,000 in 2023.
Enterprises in Russia are adjusting to the economic sanctions on the country, with some companies having to close offices abroad and to seek alternative service providers. Despite the restrictions, energy giants Rosneft and Gazprom have kept the leading positions in the ranking of the largest companies by revenue.
Legal forms of companies in Russia
Owners can register companies in Russia in the form of legal entities or as individual entrepreneurs, also known as self-employed persons. Micro-, small-, and medium-sized enterprises (MSMEs) are more frequently established by individual entrepreneurs than as legal entities. The number of individual entrepreneurs has increased in the country since 2020. In total, there were nearly 4.5 million individual entrepreneurs in Russia in 2023. In comparison, the legal entity count was around 3.3 million. The most common types of legal entities are limited liability companies (LLC, also known as OOO) and joint-stock companies (JSC, or AO).What are the largest Russian companies?
Energy companies Rosneft and Gazprom are the highest-earning in Russia. Several major companies in the country are owned or co-owned by the government, such as Gazprom, Rosneft, Sberbank, Russian Railways, Rostec, and Rosatom. The largest private companies include Lukoil and fast-moving consumer goods (FMCG) retailers X5 Group and Magnit. By market capitalization, the leading company is Gazprom, while Sber has the highest brand value.Foreign business activity in Russia during the war in Ukraine
More than 1,000 international companies suspended operations in Russia in response to the war in Ukraine to some extent, with most of them curtailing most or almost all operations temporarily. Furthermore, more than 500 businesses in various sectors exited the market completely, including Cisco, Exxon, Henkel, Ikea, Kinross Gold, McDonald's, Obi, and Siemens. Some of them sold their Russian assets to domestic investors. Out of the 10 highest-earning foreign companies in Russia, French Leroy Merlin and Auchan continued their activity in the country without scaling back.Enterprises in Russia are adjusting to the economic sanctions on the country, with some companies having to close offices abroad and to seek alternative service providers. Despite the restrictions, energy giants Rosneft and Gazprom have kept the leading positions in the ranking of the largest companies by revenue.
