Western banks that have continued operations in Russia paid more than €800mn in taxes last year, marking a fourfold increase from pre-war levels, despite pledges to reduce their exposure following the full-scale invasion of Ukraine, the Financial Times reported on April 29. The Financial Times’ analysis revealed that the seven largest European banks in Russia — Raiffeisen Bank International, UniCredit, ING, Commerzbank, Deutsche Bank, Intesa Sanpaolo and OTP — collectively reported profits exceeding €3bn in 2023. The significant tax contributions from these banks account for about 0.4% of all …