Bangladesh demands compensation from companies making “runaway profit” from Russia-Ukraine war

Bangladesh’s foreign minister said companies making “runaway profit” from the war in Ukraine should compensate affected, less developed nations, Report informs, citing CNBC.

“In this war, some companies are making runaway profit... energy companies and defense companies,” AK Abdul Momen told CNBC on the sidelines of the G-20 foreign ministers summit in New Delhi.

“Therefore, we will argue that those companies that are making runaway profit, they should dedicate at least 20% of the profit to those countries that are most affected like us,” he added, without naming specific companies.

The war has also had major global economic ramifications, especially for countries like Bangladesh which imports most of its energy. The foreign minister said about 95% of the country’s energy is imported.