Losses of foreign companies from leaving Russia exceed $107 billion – Kommersant
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Foreign companies lost more than $107 billion from leaving the Russian market. The amount was calculated by the agency Reuters based on company reports.
Losses include write-offs and lost profits. Their volume has increased by a third since the last estimate in August 2023. It was announced the sale of assets owned by Shell, HSBC, Polymetal International, Yandex NV for a total amount of about $10 billion with a discount of up to 90%. Last week, Danone announced that it had received permission to sell assets in Russia, with a loss from the deal amounting to €1.2 billion.
According to the Yale School of Management, about 1 thousand companies have left Russia since 2022. However, hundreds continue to work or have suspended their activities.
Over the past three years, the number of legal entities with foreign participation in Russia has decreased by a third, according to calculations by analysts of the Kontur.Focus project based on official databases. The sharp decline is explained by the departure of foreign companies from the market.
Read more in the Kommersant article. “Take it and leave it”.
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