Bloomberg: profit of Russian companies in the second quarter increased by 25%
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In the second quarter of 2022, an increase in the net profit of Russian companies by 9.5 trillion rubles is recorded. (+25% compared to the beginning of the year), reports Bloomberg with reference to the calculations of Sber CIB (Sberbank structure). The profits of companies engaged in transportation and storage grew the most (+168%), the least – those of the manufacturing sector (+44% in total). The loss is recorded in two sectors: in mining (-51%) and retail (-13%).
“The results of the second quarter were very good, demonstrating the stability of the Russian economy … Steady growth in profits gives hope for a revival of corporate investment,” the agency quotes data from the Sber CIB report. According to Bloomberg analysts, these indicators indicate a weakening of the effect of sanctions on the Russian economy, which is in a state of recession after the start of military operations in Ukraine.
In July EU approved the seventh package of sanctions against Russia, which made a number of exceptions for several industries. It eased restrictions on the transportation of oil, operations with agricultural products and the purchase of medical equipment.
On the easing of sanctions – in the material “Kommersant” “Sanctions have been eased”.
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