Although the United States and Russia have imposed economic sanctions on each other since 2014, several large U.S. corporations, including PepsiCo Inc (PEP.O) and McDonald’s Corp (MCD.N), still count Russia as a growth market.
But new developments have raised the possibility of fresh challenges for U.S. companies in Russia.
The United States on Wednesday announced it would impose fresh sanctions on Russia after Washington determined Moscow had used a nerve agent against a former Russian double agent, Sergei Skripal, and his daughter, Yulia, in Britain. Russia on Thursday condemned the new round of sanctions as illegal and said it had begun working on retaliatory measures.
A senior U.S. State Department official said on Thursday the sanctions on Russia will target exports of national security-related goods including sectors such as specialized oil and gas technology and some electronics and sensors.
In April, the United States imposed sanctions on 24 Russian oligarchs and government officials and 12 Russian companies.
Russia imported $12.5 billion worth of U.S. products in 2017, according to official customs data. That included aircraft, machinery, pharmaceutical and chemical products.
Publicly listed U.S. companies generated more than $90 billion in revenue from Russia in 2017, according to the Thomson Reuters Country of Risk model, which estimates companies’ financial exposure to different countries. Among the industries with the greatest exposure to Russia are food and beverages, technology and pharmaceuticals.
Here are some of the U.S. companies that maintain significant operations in Russia.