Experts reveal shock list of businesses and banks who continue to trade in Russia

US healthcare giant Johnson & Johnson has been named as the worst offender in a list of Western companies still operating in Russia.

Banks HSBC and Goldman Sachs come next followed by consumer goods giant Unilever and its US rival Procter & Gamble, on a list compiled by the Moral Rating Agency (MRA).

Moscow’s invasion prompted many companies to distance themselves from business with Russia.

But the MRA, a London-based organisation, has been tracking Western companies still trading there. It has scored them by assessing activities which may include importing and exporting, owning factories or having other investments.

Second worst, according to the report, is UK-based bank HSBC. It said in July it had agreed to sell its business in Russia – but MRA said ‘a promise is just a promise until it is honoured’

Johnson & Johnson is behind brands such as Listerine and Neutrogena. It was described as hypocritical and given the worst rating – in reference to its J&J Institute in Moscow, which trains healthcare professionals, as well as its pharmaceuticals and medical devices still being available. Johnson & Johnson has described the war as ‘devastating’ and has donated millions to humanitarian organisations as well as medical kit.

It said in March it was suspending supply of personal care products in Russia as well as all advertising, enrolment in clinical trials and new investment.

Second worst, according to the report, is UK-based bank HSBC. It said in July it had agreed to sell its business in Russia – but MRA said ‘a promise is just a promise until it is honoured’.

Goldman Sachs, third on the list, is criticised for continuing to serve existing customers.

Unilever, meanwhile, has said it has stopped much of its activity but would still supply ‘everyday essential food and hygiene products’.

Procter & Gamble, in fifth, is still producing health-related goods in Russia. It previously said it had discontinued investments, suspended advertising and reduced its portfolio.

Johnson & Johnson is behind brands such as Listerine and Neutrogena. It was described as hypocritical and given the worst rating – in reference to its J&J Institute in Moscow

Goldman Sachs said it was winding down its operations in Russia in line with regulatory requirements as well as sanctions

The Mail has contacted all five companies. Goldman Sachs said it was winding down its operations in Russia in line with regulatory requirements as well as sanctions.

A spokeman for HSBC said the sale of its Russia business is subject to various regulatory approvals in the country.

The invasion of Ukraine marked a sea change in the release of confidential intelligence to the public, the head of GCHQ said yesterday.

London and Washington took the unusual step of revealing Russia’s plans ahead of its attack in February, to deter Vladimir Putin and counter false narratives, Sir Jeremy Fleming told BBC Radio 4 while guest editing the Today show.