NACP adds Xiaomi to the list of international war sponsors, the company still continues to operate in Russia

The National Agency for the Prevention of Corruption (NAPC) has added Chinese corporation Xiaomi to the list of international sponsors of war.

Here's What We Know

This was reported by the agency's press service. The reason for the inclusion in the list of international sponsors of the war was that the company still continues to operate in Russia after the full-scale invasion of Ukraine. In addition, Xiaomi is still the leader in smartphone sales in the terrorist state. During the full-scale war, Xiaomi managed to increase its deliveries to Russia by 39% in the third quarter of 2022 compared to the previous one. During 2022, Xiaomi doubled its market share and is now the leader in smartphone sales in Russia.

In July 2022, Xiaomi and its POCO sub-brand together held 42% of the Russian smartphone market, ranking first in terms of sales. According to official data, in 2021, the company's Russian subsidiary received revenue of $202,000,000. These are the funds from which large amounts of taxes are paid. These taxes are then used to support the Russian army, which is currently killing Ukrainians, the NACP said.

This is why the agency added the company to the World-Check database. It keeps track of high-risk individuals and organisations. The database is used worldwide to identify and manage financial, regulatory and reputational risks.

Source: NACP