War Balance
Profits of Russian-owned companies abroad: 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, 23 countries have this part; the table starts with Germany, Kazakhstan and Azerbaijan.
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 · 23
Sorted by “Profits of Russian-owned companies abroad” 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 | Profits of Russian-owned companies abroad | Russia kept from trade, vs no war | Net |
|---|---|---|---|---|
| 1 | Germany | +€1.3bn+0.03% of GDP · +€15 per personrange +€82m to +€2.5bn | €72.6bn less1.7% of GDP lessvery likely · >99% | +€153bn+3.7% of GDPvery likely · >99% |
| 2 | Kazakhstan | −€0.69bn−0.28% of GDP · −€33 per personrange −€3.2bn to +€1.8bn | €35m less0.01% of GDP lessessentially zero | +€55m+0.02% of GDPessentially zero |
| 3 | Azerbaijan | −€0.43bn−0.61% of GDP · −€42 per personrange −€0.86bn to +€11m | €1.8bn more2.5% of GDP morevery likely · 99% | −€1.7bn−2.5% of GDPvery likely · 99% |
| 4 | United States | +€0.33bn<0.01% of GDP · +€1 per personrange −€0.10bn to +€0.77bn | €47.4bn less0.18% of GDP lessvery likely · >99% | +€132bn+0.51% of GDPvery likely · >99% |
| 5 | Uzbekistan | −€0.26bn−0.26% of GDP · −€7 per personrange −€1.2bn to +€0.72bn | €4.1bn more4.1% of GDP morevery likely · >99% | −€4.1bn−4.1% of GDPvery likely · >99% |
| 6 | Vietnam | −€0.24bn−0.06% of GDP · −€2 per personrange −€0.80bn to +€0.32bn | €0.13bn more0.03% of GDP moreessentially zero | −€0.10bn−0.03% of GDPessentially zero |
| 7 | Egypt | −€0.22bn−0.06% of GDP · −€2 per personrange −€0.95bn to +€0.51bn | €1.8bn more0.45% of GDP morevery likely · 95% | −€1.7bn−0.43% of GDPlikely toward Russia · 95% |
| 8 | United Kingdom | +€0.19bn<0.01% of GDP · +€3 per personrange +€10m to +€0.37bn | €34.9bn less1.1% of GDP lessvery likely · >99% | +€58.4bn+1.8% of GDPvery likely · >99% |
| 9 | Bulgaria | −€0.16bn−0.17% of GDP · −€25 per personrange −€0.41bn to +€88m | €2.4bn less2.5% of GDP lesslikely toward Ukraine · 87% | +€3.1bn+3.3% of GDPlikely toward Ukraine · 95% |
| 10 | Armenia | −€0.15bn−0.70% of GDP · −€50 per personrange −€0.35bn to +€50m | €34m more0.15% of GDP morelikely toward Russia · 69% | −€37m−0.17% of GDPlikely toward Russia · 69% |
| 11 | Netherlands | −€0.13bn−0.01% of GDP · −€7 per personrange −€0.36bn to +€98m | €30.2bn less2.9% of GDP lessvery likely · 98% | +€54.1bn+5.1% of GDPvery likely · >99% |
| 12 | Lithuania | +€0.12bn+0.17% of GDP · +€43 per personrange +€13m to +€0.24bn | €7.4bn less10.1% of GDP lessvery likely · >99% | +€8.8bn+11.9% of GDPvery likely · >99% |
| 13 | Austria | +€0.12bn+0.03% of GDP · +€14 per personrange +€13m to +€0.24bn | €2.4bn more0.51% of GDP morelikely toward Russia · 67% | +€2.1bn+0.45% of GDPlikely toward Ukraine · 68% |
| 14 | Serbia | −€84m−0.11% of GDP · −€13 per personrange −€0.24bn to +€73m | €1.1bn more1.4% of GDP morelikely toward Russia · 83% | −€1.1bn−1.4% of GDPlikely toward Russia · 84% |
| 15 | Sweden | −€80m−0.01% of GDP · −€8 per personrange −€0.16bn to −€2m | €10.6bn less1.9% of GDP lessvery likely · >99% | +€20.1bn+3.7% of GDPvery likely · >99% |
| 16 | Romania | −€71m−0.02% of GDP · −€4 per personrange −€0.20bn to +€60m | €6.7bn less2.1% of GDP lessvery likely · 96% | +€8.9bn+2.8% of GDPvery likely · 99% |
| 17 | Finland | +€69m+0.03% of GDP · +€12 per personrange −€29m to +€0.17bn | €17.4bn less6.4% of GDP lessvery likely · >99% | +€23.1bn+8.5% of GDPvery likely · >99% |
| 18 | Angola | +€48m+0.05% of GDP · +€1 per personrange +€18m to +€89m | €0.26bn less0.25% of GDP lesslikely toward Ukraine · 92% | +€0.26bn+0.25% of GDPlikely toward Ukraine · 92% |
| 19 | Belgium | +€31m<0.01% of GDP · +€3 per personrange +€3m to +€59m | €3.7bn less0.62% of GDP lesslikely toward Ukraine · 79% | +€20.3bn+3.4% of GDPvery likely · >99% |
| 20 | Türkiye | −€21m<0.01% of GDP · <€1 per personrange −€0.12bn to +€77m | €32.8bn more3.1% of GDP morevery likely · 96% | −€32.7bn−3.1% of GDPvery likely · 96% |
| 21 | Canada | +€20m<0.01% of GDP · <€1 per personrange +€2m to +€38m | €1.7bn less0.08% of GDP lessvery likely · 98% | +€10.6bn+0.51% of GDPvery likely · >99% |
| 22 | Iraq | +€18m<0.01% of GDP · <€1 per personrange −€0.20bn to +€0.16bn | €0.51bn more0.20% of GDP morelikely toward Russia · 94% | −€0.57bn−0.22% of GDPvery likely · 96% |
| 23 | Italy | +€12m<0.01% of GDP · <€1 per personrange −€65m to +€89m | €18.8bn less0.89% of GDP lesslikely toward Ukraine · 91% | +€34.4bn+1.6% 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: Profits of Russian-owned companies abroad −€0.73bn
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
- Company profits in Russia
- Stakes in Russian oil and gas projects
- Services bought from 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/russian-owned-companies-abroad/