War Balance
Company profits in Russia: every country since 2022
One part of how much more or less Russia kept from trade with each country than in a world without the war (taxes and profit, not the sales value). From 2022 to August 2026, 60 countries have this part; the table starts with Germany, the United States and China.
These numbers measure money: aid to Ukraine and the change in what Russia keeps from trade, against a world without the war. Weapons count at their money value: aid at market value when delivered, weapons and troops sent to Russia at the seller's gain where Russia paid and in full where it did not. Votes, diplomacy and intent are not in them.
Ranking · 60
Sorted by “Company profits in Russia” in euros, by size, either way, 2022 to August 2026. + toward Ukraine, − toward Russia; more or less: how much more or less Russia kept (taxes and profit, not sales) than in a world without the war.
| # | Country | Company profits in Russia | Russia kept from trade, vs no war | Net |
|---|---|---|---|---|
| 1 | Germany | +€5.3bn+0.13% of GDP · +€63 per personrange +€0.44bn to +€10.1bn | €72.6bn less1.7% of GDP lessvery likely · >99% | +€153bn+3.7% of GDPvery likely · >99% |
| 2 | United States | +€4.7bn+0.02% of GDP · +€14 per personrange −€3.5bn to +€9.1bn | €47.4bn less0.18% of GDP lessvery likely · >99% | +€132bn+0.51% of GDPvery likely · >99% |
| 3 | China | −€4bn−0.02% of GDP · −€3 per personrange −€7bn to −€2.2bn | €128bn more0.74% of GDP morevery likely · >99% | −€128bn−0.75% of GDPvery likely · >99% |
| 4 | Sweden | +€2.5bn+0.46% of GDP · +€239 per personrange +€0.90bn to +€3.2bn | €10.6bn less1.9% of GDP lessvery likely · >99% | +€20.1bn+3.7% of GDPvery likely · >99% |
| 5 | France | +€1.7bn+0.06% of GDP · +€25 per personrange −€2.4bn to +€3.5bn | €20.2bn less0.72% of GDP lesslikely toward Ukraine · 94% | +€43.6bn+1.6% of GDPvery likely · >99% |
| 6 | Austria | −€1.6bn−0.35% of GDP · −€179 per personrange −€3.5bn to −€0.15bn | €2.4bn more0.51% of GDP morelikely toward Russia · 67% | +€2.1bn+0.45% of GDPlikely toward Ukraine · 68% |
| 7 | Japan | +€1.6bn+0.04% of GDP · +€13 per personrange −€0.92bn to +€2.7bn | €6.5bn less0.16% of GDP lessnear zero · 94% toward Ukraine | +€12.2bn+0.30% of GDPvery likely · >99% |
| 8 | United Kingdom | +€1.6bn+0.05% of GDP · +€23 per personrange −€1.4bn to +€2.8bn | €34.9bn less1.1% of GDP lessvery likely · >99% | +€58.4bn+1.8% of GDPvery likely · >99% |
| 9 | South Korea | +€1.4bn+0.08% of GDP · +€27 per personrange −€1.1bn to +€2.5bn | €17.2bn less1.0% of GDP lessvery likely · 99% | +€18.1bn+1.1% of GDPvery likely · 99% |
| 10 | Finland | +€1.2bn+0.43% of GDP · +€210 per personrange −€0.50bn to +€1.5bn | €17.4bn less6.4% of GDP lessvery likely · >99% | +€23.1bn+8.5% of GDPvery likely · >99% |
| 11 | Netherlands | +€0.87bn+0.08% of GDP · +€48 per personrange −€0.83bn to +€1.6bn | €30.2bn less2.9% of GDP lessvery likely · 98% | +€54.1bn+5.1% of GDPvery likely · >99% |
| 12 | Hungary | −€0.77bn−0.41% of GDP · −€81 per personrange −€1.4bn to −€0.37bn | €12.3bn more6.4% of GDP morevery likely · 98% | −€11.4bn−6.0% of GDPvery likely · 97% |
| 13 | Italy | −€0.69bn−0.03% of GDP · −€12 per personrange −€2.2bn to +€0.78bn | €18.8bn less0.89% of GDP lesslikely toward Ukraine · 91% | +€34.4bn+1.6% of GDPvery likely · >99% |
| 14 | Switzerland | +€0.58bn+0.07% of GDP · +€64 per personrange −€0.52bn to +€1.1bn | €1.6bn more0.18% of GDP morelikely toward Russia · 86% | +€8.7bn+1.0% of GDPvery likely · >99% |
| 15 | Denmark | +€0.48bn+0.12% of GDP · +€80 per personrange −€0.50bn to +€0.77bn | €3.7bn less0.98% of GDP lessvery likely · >99% | +€15.5bn+4.0% of GDPvery likely · >99% |
| 16 | Spain | +€0.45bn+0.03% of GDP · +€9 per personrange −€0.13bn to +€0.58bn | €6.2bn less0.42% of GDP lesslikely toward Ukraine · 89% | +€16.6bn+1.1% of GDPvery likely · >99% |
| 17 | Türkiye | −€0.30bn−0.03% of GDP · −€4 per personrange −€1.1bn to +€0.15bn | €32.8bn more3.1% of GDP morevery likely · 96% | −€32.7bn−3.1% of GDPvery likely · 96% |
| 18 | Greece | +€0.16bn+0.07% of GDP · +€15 per personrange −€0.44bn to +€0.40bn | €1.6bn more0.70% of GDP morelikely toward Russia · 69% | +€0.18bn+0.08% of GDPessentially zero |
| 19 | Norway | +€0.16bn+0.03% of GDP · +€28 per personrange −€0.85bn to +€0.24bn | €2bn less0.40% of GDP lessvery likely · 98% | +€14.8bn+2.9% of GDPvery likely · >99% |
| 20 | Ireland | +€0.15bn+0.03% of GDP · +€28 per personrange −€0.39bn to +€0.24bn | €1.4bn less0.25% of GDP lessvery likely · 99% | +€9.5bn+1.8% of GDPvery likely · >99% |
| 21 | Czechia | +€0.15bn+0.05% of GDP · +€13 per personrange −€0.27bn to +€0.22bn | €3.6bn less1.2% of GDP lesslikely toward Ukraine · 81% | +€8bn+2.6% of GDPvery likely · 97% |
| 22 | India | −€0.12bn<0.01% of GDP · <€1 per personrange −€0.55bn to +€31m | €70.5bn more2.2% of GDP morevery likely · >99% | −€70.6bn−2.2% of GDPvery likely · >99% |
| 23 | Belgium | +€98m+0.02% of GDP · +€8 per personrange −€0.36bn to +€0.15bn | €3.7bn less0.62% of GDP lesslikely toward Ukraine · 79% | +€20.3bn+3.4% of GDPvery likely · >99% |
| 24 | Canada | +€91m<0.01% of GDP · +€2 per personrange −€0.69bn to +€0.19bn | €1.7bn less0.08% of GDP lessvery likely · 98% | +€10.6bn+0.51% of GDPvery likely · >99% |
| 25 | Poland | +€84m+0.01% of GDP · +€2 per personrange −€0.42bn to +€0.20bn | €22.8bn less3.0% of GDP lessvery likely · >99% | +€37.8bn+5.0% of GDPvery likely · >99% |
| 26 | Lithuania | +€80m+0.11% of GDP · +€28 per personrange −€0.16bn to +€0.13bn | €7.4bn less10.1% of GDP lessvery likely · >99% | +€8.8bn+11.9% of GDPvery likely · >99% |
| 27 | Cyprus | +€74m+0.23% of GDP · +€55 per personrange −€0.20bn to +€0.12bn | €0.54bn less1.7% of GDP lessvery likely · 95% | +€1.2bn+3.6% of GDPvery likely · >99% |
| 28 | Luxembourg | +€62m+0.08% of GDP · +€92 per personrange −€0.18bn to +€0.10bn | €0.70bn less0.86% of GDP lessvery likely · >99% | +€2.9bn+3.5% of GDPvery likely · >99% |
| 29 | Thailand | −€57m−0.01% of GDP · −€1 per personrange −€0.22bn to +€8m | €0.38bn less0.08% of GDP lessessentially zero | +€0.39bn+0.08% of GDPessentially zero |
| 30 | United Arab Emirates | −€51m−0.01% of GDP · −€5 per personrange −€1.3bn to +€70m | €3.6bn more0.72% of GDP morelikely toward Russia · 97% | −€3.5bn−0.71% of GDPlikely toward Russia · 97% |
| 31 | Estonia | +€43m+0.11% of GDP · +€31 per personrange −€79m to +€67m | €3.1bn less8.2% of GDP lessvery likely · 99% | +€4.1bn+10.8% of GDPvery likely · >99% |
| 32 | Kazakhstan | −€38m−0.02% of GDP · −€2 per personrange −€2.5bn to +€0.11bn | €35m less0.01% of GDP lessessentially zero | +€55m+0.02% of GDPessentially zero |
| 33 | Israel | +€33m<0.01% of GDP · +€3 per personrange −€0.19bn to +€60m | €0.14bn more0.03% of GDP moreessentially zero | +€1m<0.01% of GDPessentially zero |
| 34 | Hong Kong | −€27m<0.01% of GDP · −€4 per personrange −€2bn to +€86m | €5.7bn more1.6% of GDP morelikely toward Russia · 97% | −€5.8bn−1.6% of GDPlikely toward Russia · 97% |
| 35 | South Africa | +€26m<0.01% of GDP · <€1 per personrange −€0.72bn to +€0.37bn | €1.8bn more0.49% of GDP morevery likely · >99% | −€1.8bn−0.49% of GDPvery likely · >99% |
| 36 | Latvia | +€24m+0.06% of GDP · +€13 per personrange −€74m to +€37m | €1.4bn less3.5% of GDP lessvery likely · 99% | +€2.2bn+5.6% of GDPvery likely · >99% |
| 37 | Slovenia | +€23m+0.04% of GDP · +€11 per personrange −€61m to +€57m | €0.15bn more0.25% of GDP moretoo close to call · 58% toward Russia | +€0.42bn+0.66% of GDPlikely toward Ukraine · 88% |
| 38 | Armenia | +€19m+0.09% of GDP · +€6 per personrange −€93m to +€28m | €34m more0.15% of GDP morelikely toward Russia · 69% | −€37m−0.17% of GDPlikely toward Russia · 69% |
| 39 | Greenland small economy | +€18m+0.57% of GDP · +€308 per personrange −€0.10bn to +€37m | €46m less1.5% of GDP lesslikely toward Ukraine · 67% | +€46m+1.5% of GDPlikely toward Ukraine · 67% |
| 40 | Singapore | +€15m<0.01% of GDP · +€3 per personrange −€1.4bn to +€94m | €2.2bn more0.44% of GDP morelikely toward Russia · 78% | −€2bn−0.41% of GDPlikely toward Russia · 75% |
| 41 | Australia | +€13m<0.01% of GDP · <€1 per personrange −€0.17bn to +€40m | €1.9bn more0.12% of GDP morevery likely · >99% | −€0.61bn−0.04% of GDPessentially zero |
| 42 | New Zealand | +€13m<0.01% of GDP · +€2 per personrange −€56m to +€22m | €1m more<0.01% of GDPessentially zero | +€0.13bn+0.05% of GDPessentially zero |
| 43 | Taiwan | +€11m<0.01% of GDP · <€1 per personrange −€93m to +€23m | €0.46bn less0.06% of GDP lessessentially zero | +€0.66bn+0.09% of GDPessentially zero |
| 44 | Mexico | +€10m<0.01% of GDP · <€1 per personrange −€0.13bn to +€32m | €0.39bn less0.02% of GDP lessessentially zero | +€0.41bn+0.03% of GDPessentially zero |
| 45 | Sri Lanka | +€9m+0.01% of GDP · <€1 per personrange −€53m to +€19m | €0.69bn more0.86% of GDP morevery likely · >99% | −€0.70bn−0.87% of GDPvery likely · >99% |
| 46 | Azerbaijan | −€8m−0.01% of GDP · −€1 per personrange −€0.49bn to +€20m | €1.8bn more2.5% of GDP morevery likely · 99% | −€1.7bn−2.5% of GDPvery likely · 99% |
| 47 | Uzbekistan | −€8m<0.01% of GDP · <€1 per personrange −€0.77bn to +€36m | €4.1bn more4.1% of GDP morevery likely · >99% | −€4.1bn−4.1% of GDPvery likely · >99% |
| 48 | Vietnam | −€7m<0.01% of GDP · <€1 per personrange −€0.54bn to +€23m | €0.13bn more0.03% of GDP moreessentially zero | −€0.10bn−0.03% of GDPessentially zero |
| 49 | Serbia | −€7m<0.01% of GDP · −€1 per personrange −€0.33bn to +€14m | €1.1bn more1.4% of GDP morelikely toward Russia · 83% | −€1.1bn−1.4% of GDPlikely toward Russia · 84% |
| 50 | Iran | −€7m<0.01% of GDP · <€1 per personrange −€0.28bn to +€23m | €1.9bn more0.44% of GDP morevery likely · >99% | −€1.9bn−0.44% of GDPvery likely · >99% |
| 51 | Bulgaria | +€4m<0.01% of GDP · +€1 per personrange −€18m to +€9m | €2.4bn less2.5% of GDP lesslikely toward Ukraine · 87% | +€3.1bn+3.3% of GDPlikely toward Ukraine · 95% |
| 52 | Saudi Arabia | −€4m<0.01% of GDP · <€1 per personrange −€0.18bn to +€7m | €3.9bn more0.33% of GDP morevery likely · 99% | −€3.5bn−0.30% of GDPvery likely · 99% |
| 53 | Slovakia | +€4m<0.01% of GDP · +€1 per personrange −€45m to +€8m | €0.91bn more0.75% of GDP moretoo close to call · 58% toward Russia | +€0.29bn+0.24% of GDPtoo close to call · 58% toward Ukraine |
| 54 | Iceland | +€2m<0.01% of GDP · +€5 per personrange −€51m to +€7m | €83m less0.28% of GDP lesslikely toward Ukraine · 88% | +€0.35bn+1.2% of GDPvery likely · >99% |
| 55 | Croatia | +€2m<0.01% of GDP · <€1 per personrange −€19m to +€5m | €0.44bn less0.56% of GDP lesslikely toward Ukraine · 85% | +€1.2bn+1.5% of GDPvery likely · >99% |
| 56 | Turkmenistan | −€2m<0.01% of GDP · <€1 per personrange −€96m to +€3m | €0.58bn less1.5% of GDP lesslikely toward Ukraine · 84% | +€0.57bn+1.5% of GDPlikely toward Ukraine · 83% |
| 57 | Moldova | −€2m−0.01% of GDP · −€1 per personrange −€0.21bn to +€11m | €0.97bn less6.3% of GDP lessvery likely · 96% | +€1.1bn+6.9% of GDPvery likely · 97% |
| 58 | Tajikistan | −€1m<0.01% of GDP · <€1 per personrange −€0.12bn to +€5m | €46m more0.39% of GDP moretoo close to call · 58% toward Russia | −€46m−0.40% of GDPtoo close to call · 58% toward Russia |
| 59 | Georgia | −€1m<0.01% of GDP · <€1 per personrange −€40m to +€7m | €1.2bn more4.1% of GDP morelikely toward Russia · 86% | −€1.2bn−4.1% of GDPlikely toward Russia · 87% |
| 60 | Portugal | +€1m<0.01% of GDP · <€1 per personrange −€45m to +€5m | €1.8bn less0.68% of GDP lessvery likely · 98% | +€3.5bn+1.3% of GDPvery likely · >99% |
Each row: the best estimate, then its range in the same unit and sign. The chances of the direction are for each country's totals, on its page.
Party to the war (with Russia), not ranked
- Belarus: Company profits in Russia −€70m
Related
- Russia's gain on fuel and goods it sold
- Russia's gain from war-time fuel prices
- Sellers' gain on sales to Russia
- Extra price Russia paid because of sanctions
- Company taxes paid in Russia
- Stakes in Russian oil and gas projects
- Services bought from Russia
- Services sold to Russia
Ranking · Support for Ukraine by country · Trade with Russia by country · All topics · How it works
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Cite as: War Balance, figures to August 2026, https://warbalance.org/company-profits-in-russia/