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Since the start of Russia’s full-scale invasion of Ukraine, Disney and Sony have earned £13.5 million (over $16.7 million) in dividends from their joint company in Russia.
This was reported by The Telegraph and relayed by Ukrinform.
The funds were paid by Moscow-based Walt Disney Studios Sony Pictures Releasing (WDSSPR) to London-based Eastern European Holdings (EEH), a joint venture owned by Disney and Sony’s Columbia Pictures division.
According to recent reports, the Moscow company responsible for the marketing and distribution of Disney and Sony films in Russia paid £13.1 million ($16.2 million) in dividends in March 2022. An additional £440,000 ($546,000) was paid between July and December 2023.
The total dividends received from WDSSPR since the start of the war amounted to £13.5 million.
The dividends stem from agreements established before Disney and Sony announced the suspension of their operations in Russia. The companies no longer conduct commercial activities in Russia, and there is no evidence suggesting they acted improperly or violated sanctions, according to the report.
Disney announced the suspension of all business operations in Russia on March 10, 2022, followed by Sony a day later.
As previously reported, seven major Western banks that remain in Russia paid over €800 million in taxes to the Russian government in 2023.
