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PepsiCo said it would leave Russia. Last year, it paid $237 million to the state

by Toby Woodall

In response to Russia's full-scale invasion, PepsiCo announced it would suspend production and sales in Russia in March 2022 — and yet, last year it still paid $237 million in income tax to the Russian state. PepsiCo, one of the largest food and drink producers in the world, remains Russia's fourth-largest foreign business — with 60,000 workers and 19 factories still producing Pepsi Cola for Russian shelves under new names, Lyubimaya Cola and Evervess Cola. That continued presence means more m

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Can Ukraine choke off Russia’s LNG trade at the source?

Despite increasingly stringent sanctions on Moscow, countries worldwide continue to import Russian fossil fuels. The flexibility and transportability of liquefied natural gas (LNG) are particularly significant, helping sustain the flow of energy revenues into the Kremlin's coffers. In July 2026, Belgium stood out for sourcing 100% of its LNG imports from Russia, mere months before a full EU ban on LNG imports comes into force. But if countries won't wean themselves off their addiction, how muc

Ukraine war latest: Zelensky formally nominates Khmara as defense minister, rules out Fedorov's comeback

Key developments on Aug. 18: * Zelensky formally taps Khmara as defense minister, ruling out Fedorov's return * Ukraine launches hundreds of drones towards Moscow in latest large-scale attack, reportedly damaging Wildberries warehouse * Russia threatens UK over supplying drones to Ukraine * Ghana asks Moscow to stop recruiting its citizens for war in Ukraine * SBU detains alleged Russian agent accused of registering Starlink terminals for Russian troops President Volodymyr Zelensky on Aug

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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