Ukraine’s Central Bank calls on global lenders to exit Russia market
The National Bank of Ukraine has publicly urged international banks to carry through on their earlier statements and withdraw from the Russian market. The editor’s note was published via the bank’s Telegram channel, reinforcing the call for concrete action rather than continued presence in the market.
Andriy Pyshny, the head of the National Bank, is quoted as saying that international banks should implement the stern declarations made nearly a year ago and leave Russia entirely. This stance underscores a push for accountability, with the regulator pointing to publicly available information showing favorable lending terms extended by some foreign banks to participants in Russia’s operation in Ukraine. The NBU contends that these acts reflect a disconnect between public statements and actual behavior, arguing that many international financial groups remain active participants in Russia’s banking system even after their rhetoric suggested otherwise.
Vyacheslav Volodin, a former speaker of Russia’s State Duma, has cited the perception that a significant portion of foreign companies still operate in the country. He asserted that roughly three quarters of such firms continue their activities within the Russian Federation, a point that has fuelled discussions about corporate responsibility and strategic retreat in light of ongoing geopolitical tensions. This overview aligns with broader analyses about how foreign businesses respond to sanctions, political risk, and market access constraints.
In a separate CSR assessment titled “Foreign Business Picture: You Can’t Leave, You Can’t Stay,” researchers found that 34% of the 600 largest foreign companies reported restricting their operations in Russia, while 15% decided to depart the market. Some companies transferred ownership to new entities rather than selling off, and about 7% announced a complete withdrawal without a sale. The report highlights the complexity of corporate decision‑making under sanction regimes and the varying strategies firms adopt to balance exposure with long‑term strategic goals. Attribution: CSR report findings and commentary from industry analyses. [CSR report, 2023–2024]