Foreign companies that fled Russia due to its special military operation in Ukraine suffered losses and revenue losses of more than $107 billion. This was reported by Reuters Citing research and business reports of the Yale School of Management (faculty of the university of the same name in the USA).
It is noted that the amount has increased by one third since August 2023, when the previous estimate was given. At that time, losses amounted to 80 billion dollars.
Ian Massey, an analyst at global risk consultancy S-RM, suggested that Western companies planning to leave Russia will face new challenges and will have to face huge losses and losses due to the tightening of anti-Russian sanctions and the weakening of military support. For Ukraine, from the United States and its allies.
According to the Yale School of Management, nearly 1,000 foreign companies have left Russia since the spring of 2022, and hundreds of others continue to work for the exit.
Since the beginning of the Russian SVO, many Western companies such as McDonald’s, The Coca-Cola Export Corporation, Nike Inc, Adidas AG, Inditex SA (Zara, Pull&Bear, Massimo Dutti, Bershka) have decided to suspend their work in Russia. Or leave the country’s market altogether.
Putin before He thanked Brands leaving Russia.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.