Skip to main content

Russia expands its list of ‘systemically important’ companies, adding McDonald's, IKEA, and more

Source: Vedomosti

Russia’s federal list of “systemically important” companies is now three times longer, featuring roughly 600 businesses. According to the newspaper Vedomosti, the updated list includes new airlines (Rossiya, S7, Utair), airports (Domodedovo, Pulkovo) grocery store chains (Vkusvill, Ashan), fast food chains (McDonald's, Burger King), and retail stores (Sportmaster, IKEA).

Beginning next week, the government will begin “stress testing” these businesses to determine if support measures are necessary during the fight against the spread of coronavirus. Merely being included on the federal list does not guarantee government support.

Russian officials confirmed the last list of “systemically important” companies in 2015, when it included roughly 200 enterprises that accounted for 70 percent of the country's total national income and employed more than 20 percent of the nation’s workforce. Businesses included on this list are monitored for potential state assistance to ensure economic stability.