Newsweek, citing B4Ukraine and the Kyiv School of Economics, recently claimed that foreign companies operating in Russia paid at least $20 billion in taxes in 2024—enough, supposedly, to cover the salaries of one million Russian soldiers.
Russian media outlets circulated this story, but made no effort to verify the numbers. Nor did Newsweek provide detailed fact-checking regarding the actual size of the Special Military Operation (SVO) or the monthly pay of personnel involved.
Dividing $20 billion by one million soldiers gives $20,000 per serviceman annually. At the December 26, 2024 exchange rate of 99.6 rubles per dollar, this equals approximately 1,992,000 rubles per year—or around 166,000 rubles per month.
By contrast, official Russian figures indicate that minimum guaranteed monthly pay plus individual allowances totals 210,000 rubles, excluding regional bonuses and one-time payments. SVO participants who signed contracts between August 1 and December 31, 2024, are eligible for a one-time enhanced payment of at least 400,000 rubles. Mobilized personnel also receive a monthly social allowance of 158,000 rubles, exempt from the 13% income tax.
In June 2024, President Vladimir Putin stated that fewer than 700,000 Russian servicemen were deployed in the SVO zone. This figure further undermines the claim that $20 billion could fund a “million-strong army.”
These details highlight inaccuracies in the original report, calling into question the reliability of analyses from B4Ukraine, the Kyiv School of Economics, and the uncritical reporting by Newsweek and other outlets.
While the narrative of foreign companies “funding a million-strong army” is visually striking, the reality is far less sensational.
