The Kremlin has approved the sale of Unilever’s Russian subsidiary, but at a ‘discounted price’.

The value of Unilever’s assets in Russia is estimated to be between 393 and 449 million USD. However, according to Unilever’s half-year report from July, they were valued at 663 million USD, which includes the value of four factories, according to Dairy Newsletter.

Russia, however, demands a 50% discount for companies from “unfriendly” countries that are leaving Russia, along with an additional exit tax of at least 15%. Unilever has faced criticism for remaining in Russia since Moscow sent troops into Ukraine in February 2022. Although the company has reduced most of its operations in Russia, it was added last year to Ukraine’s list of “International Sponsors of War.”

 Photo: Unilever’s headquarters in London /press photo