Economy 2024-02-15T04:59:43+02:00
Ukrainian news
1,300 Companies With Foreign Capital Curtail Their Presence In Russian Market After Outbreak Of War In Ukraine

1,300 Companies With Foreign Capital Curtail Their Presence In Russian Market After Outbreak Of War In Ukraine

Russian market
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Almost 1,300 companies with foreign capital curtailed their presence in the Russian market after the outbreak of war in Ukraine.

This is stated in the report of the KSE Institute, Ukrainian News Agency reports.

"Since the beginning of the large-scale Russian invasion of Ukraine, 135 companies with foreign capital have completely left the Russian market, another 1,144 are in the process of leaving. Instead, 501 companies are waiting, suspending current operations and investments, and 1,189 foreign companies are still operating in the Russian Federation. As of November 20, companies that completely left the Russian Federation had at least 282,000 personnel, USD 34.5 billion of annual income, USD 15.3 billion of capital and USD 32.4 billion of assets," it says.

Analysts at KSE Institute note that among the leaders in terms of exit rates from the Russian market are companies that are registered in Finland.

In particular, among 87 Finnish companies in the KSE Institute database, only 14 continue to operate in the Russian Federation, while others have reduced, limited or stopped work in Russia or completely left the Russian market.

"Among those who have reduced their presence in the Russian Federation are world-famous companies Nokia, Hesburger, Vianor, Nokian Tyres, Valio, Stockmann. 87 Finnish companies in the Russian Federation provided work for almost 22,000 employees and owned assets worth USD 5.5 billion. The most active Finnish companies in the Russian Federation were represented in the sectors of automobile industry, e-commerce, food industry, consumer goods," the report says.

As Ukrainian News Agency earlier reported, the total amount of direct documented damage caused to residential and non-residential real estate, other infrastructure of Ukraine as a result of Russia's military aggression against Ukraine as of September 2022 amounted to more than USD 127 billion.

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