Since the 2022 invasion of Ukraine. Russia has experienced an exodus even from corporate firms which has cost foreign companies more than $107 billion in calculated revenue, an analysis of company filings and statements showed.
The number of losses have increased by one third last year, emphasizing the scale of the financial hit to the corporate world from Moscow’s invasion, as well as highlighting the sudden loss of Western expertise from Russia’s economy.
Ian Massey, Head of Corporate Intelligence, EMEA said, “As Russia’s invasion continues amid faltering Western military aid, and the granularity of Western sanctions regimes increases, companies still aiming to exit Russia will likely face further difficulties and have to accept greater writedowns and losses,” while at global risk consultancy S-RM.
Russian President, Vladimir Putin, from his landslide victory in the just concluded election which was widely condemned in the West as unfair and undemocratic, now has a renewed mandate to pursue further isolation from the West, including through additional asset seizures and political pressure, Massey added.
Moscow demands discounts of at least 50% on foreign asset sales and has steadily tightened exit requirements, often accepting nominal fees as little as one rouble.