In Russia, approximately $18 billion of the $20 billion earned by Western companies in the Russian market in 2022 is blocked. This was reported by Finance Times.
According to the publication, due to the imposed restrictions, companies from the USA, EU countries and other states that are “unfriendly” to the Russian Federation are prohibited from withdrawing. Among American companies, the leaders were Philip Morris and PepsiCo, with domestic revenues of $775 million and $718 million, respectively. Swedish truck manufacturer Scania received $621 million from the Russian Federation, but had to leave the Russian market due to sanctions. The biggest profit maker was Austrian Raiffeisen Bank International with $2 billion.
In general, the volume of profits of American companies not withdrawn from the country is 4.9 billion dollars, while German ($2.4 billion) and Austrian ($1.9 billion) companies rank second in this indicator. Swiss companies left $1 billion to the Russian Federation.
The management of Raiffeisen Bank International confirmed that Russia will not be able to dispose of its profits. Philip Morris and Scania did not comment to the FT.
President of VEB.RF at the beginning of September offered Help local brands.
Previously clothing manufacturers guess billions of dollars in losses and problems for investors