Less 9% of Western companies they have left Russia after the warAccording to a report with data up to November 2022, Simon J. EventettGallen University and Niccolo PisaniTotal from IMD Business School 1,404 companies. Another list, in this case Yale Universitylists about 1,587 Western companies that have made public announcements. Voluntary reduction of its operations in Russia, although each goes their own way. From this mass migration, a third still maintain some form of activity In the country after the warBenetton, Yamaha, Hard Rock Café, Veolia or Yamaha–, the other third temporarily closed its business –Amazon, Audi, Bang of Olufsen, Blackberry, Burberry or Canon–, while the remaining stack is completed retired from the country –H&M, Ikea, Mercedes Benz or McDonalds–.
Among the reasons to highlight Simon J. Evenett and Niccolò Pisani Beyond campaigns to leave the country, many companies may not be able to do so for “multiple reasons”. Among them, they mention the interest of Western companies to stay in Russia. not giving up on your long-term relationships; without being subject to sanctions and taking into account It’s “inappropriate” to abandon Russian customersbut there are also companies that have agreed to leave the country and have not been successful. they cannot find a buyer, they cannot agree on a price, or the Russian government prevents it.
In the case of Spain, about 13 companies left the country, according to the Yale list. But that’s not all. take a look balance of trade This country shows Spain sold less to Russia in 2022 –exports are down 32% to represent 1,283 million euros, but only 0.3% of total foreign sales – but bought much more – up 26.4% to 7,624 million euros, representing 1.7% of the total, which makes it double the trade deficit traditionally continuing with this country for energy until 6,341 million eurosAccording to the Foreign Trade figures published by the Ministry of Industry, Trade and Tourism.
ongoing business relationship
main purchase item russian gas. Spain continues to be three main importers of liquefied natural gas As the CEO noted this week, along with France and Belgium, that country’s (LNG) Arturo Gonzalo Airpiri. Specifically, it imported around 56,021 gigawatt-hours (17.5% of LNG imports and 12.5% of total gas purchases) in 2022, 54.8% more than the previous year, according to statistics from core officials. Third vice president and Minister of Ecological Transition, Teresa Riberaasked many times marketers HE Reduce your Russian gas purchases and look for alternative markets. The response of the main Spanish gas company, improvisationthe point is there is no reason to break the contract in force to import gas from the Yamal Peninsula “binder” by 2042 and joined together other partners (a Chinese consortium and the French company Total), without any consequences, There is no LNG sanction in Europe.
the situation is different OilIts purchases from Russia were stopped in May 2022 – after the European veto – with an annual accumulated amount of 698,000 tons, compared to 2,569,000 tons a year earlier. But they continued to be important petroleum products, with impunity by Europe until this month of February. Import of petroleum derivatives, which was 1,084,000 tons in the previous year, reached 1,151,000 tons in 2022. among them dieselCompared to 2021, its purchases increased by 10% to 851,000 tons. The two main Spanish oil companies, Repsol and CepsaHe confirmed that he has not engaged in any activity with the country since the start of the war.
stop in production
After the outbreak of the war, announcements of the cessation of activity in Russia became constant. These include companies such as IberiaConsidering the closure of the airspace with that country, at the same time all companies in the textile sector or Amadeus, for its part, has decided to suspend the distribution of Aeroflot rates in its systems. In addition, all textile companies Tendam (Cortfiel) closed its stores in March last year. Or industrial companies that have factories in the country, such as those devoted to automotive components. Gestamp, Antolin or CIE Automotivecollected between the three seven factories in Russia From the very beginning of the conflict, they have been paralyzing their production by abiding by the commitments they have made with their customers. Moreover Acerinox, Talgo and eDreams Odigeo They paralyzed their activities in the country.
sale or assignment
If Spanishclearest definitive retreats, distribution or retail companiesthey later decided after temporarily paralyzing their activities in the country sell or give away dealings with third parties in most cases. probability of return He stands out among the first to announce his departure Source, In the summer, the company announced the “handover” of seven of its factories in the country. Home address. Also the Catalan textile chain Mango After 23 years in this market, 55 sales points were transferred and turned into dealerships. The company does not have any presence in the country, nor does it sell clothing directly to its partners’ stores. They will continue to sell under their flag. For his own name, also jewelry Tous plans to give up 32 outlets definitively after suspending its activity and distribution, including ‘e-commerce’.
One of the most affected companies inditex. With more than 500 storesRussia became Second market for Galician company has reached an agreement for the sale of its business in the country to the Daher group. The deal will be annulled if “new conditions arise that, in Inditex’s view, will allow the group brands to return to this market in the future”. partnership through a franchise agreement between the two. He also decided to sell his businesses. Amrest Restoration GroupAnnouncing that it signed a sales agreement with Almira OOO at the beginning of December, KFC restaurants At least 100 million euros in Russia. operation Waiting for authorization By the Russian competition agency, Yum! Brands Inc. and other regulatory permissions.
in the process of leaving
companies like Borges group They are still active in Russia, albeit to a limited extent. according to sources Borgesone of the company commercial office a “link” that acts as a link for the sale of products in that country. few employees” (less than 5) is in the “liquidation process” for its final closure in the coming months. Today the office is active in terms of registration, but with low activity according to sources from that company. Also a Catalan company Fluidra has two branches in the country companies that represent less than 1% of their total business but are “in process of exit” according to company sources. One of the company pre-sale contract In the absence of these two companies authorization by country authoritiesas they explained.
On the other hand, food strong group, Does not operate in Russia or have any subsidiaries, Minority shares at meat production company Cherkizovo, however, it has not taken any action since Russian President Vladimir Putin intervened in the market. “Since the beginning of the conflict, the company froze its investments in that country and they have decided to cease any operation or financial movement,” they insist from that company.
The company also operates in Russia, according to Yale University research Soler & Palau Ventilation Group And Maksampointed out by the president of Ukraine Volodymyr Zelensky In his first appearance at the Congress of Deputies, together Porcelanosa and Secobe Refusing to continue its activities in Russia. EL PERIÓDICO contacted this company but without getting an answer. As this company explains in its annual accounts for 2022, the company “has arrived. to obey meticulously “with the current sanctions regime”, but has four branches in the country dedicated solely to the civil explosives business. On these accounts, the company explains, “These companies operate autonomously, supply locally and serve local customers.” He adds that assets and results “do not matter” in the context of the Maxam group.