The representative office of the international anti-corruption non-governmental organization Transparency International in Ukraine notes that Russian companies doing business in Ukraine have a low degree of disclosure of information about financial transactions to government agencies, the press service of Transparency International said in a statement.

According to the report, the organization conducted a new study, "Transparency in Corporate Reporting: An Assessment of Emerging International Companies." The research report contains a ranking of 100 fast-growing companies operating in the markets of 16 emerging economies (BRICS).

Companies are ranked from 0 to 10 points: the highest score was given to companies with transparent reporting, zero - to those with the most closed reporting. The assessment was determined on the basis of 3 indicators: reporting on the company's anti-corruption programs, transparency of its organization and disclosure of information about financial transactions to government agencies.

The report notes that the study included such Russian companies with negative indicators as those with business in Ukraine, such as the gas monopolist Gazprom, Alfa Group (represented in Ukraine by Alfa Bank) and Lukoil.

Experts assessed the degree of disclosure of information about Gazprom's financial transactions at 0%.

The lowest positions in the rating of Russian companies were received by Alfa Group - 2.7 points and Lukoil - 2.2 points.

According to Alexey Khmara, executive director of Transparency International Ukraine, the opaque style of doing business by foreign companies in Ukraine is a threat to the state economy. “Foreign companies that interact opaquely with government agencies bring existing corruption schemes to our country. Against this background, the anti-corruption measures that the government is taking have every chance of remaining an ideal theory, unrelated to the actual conduct of business in our country,” emphasizes Mr. Khmara.

However, the director is convinced that the entry into force of the law on the liability of legal entities for corruption offenses from September 1, 2014 will promote transparency in the activities of foreign and domestic companies.

Based on materials from the Ukrainian News Agency

Transparency International: Russian companies in Ukraine conduct business non-transparently