BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/29
Rosstat reports there were 460 Finnish-owned firms in Russia in 2013. Rosstat figures also include firms, where Finns hold a minority stake. Some 60 % of Finnish-owned firms are sited in Northwest Russia, mostly in St. Petersburg, in the Leningrad region or in the Karelian Republic. About a quarter are based in and around Moscow.
Finnish-owned firms accounted for about 2 % of foreign firms operating in Russia. A substantial portion of foreign firms in Russia are, however, Cypriot-owned, and it is estimated that the ultimate owners in most of such cases are in fact Russian. The region where Finns accounted for the largest share of foreign-owned firms is the Karelian Republic. Well over a third of foreign firms there have Finnish owners.
Number and combined net sales (EUR billion) of Finnish-owned subsidiaries in Russia
Source: Statistics Finland