Foreign firms' losses from exiting Russia top $107 billion
Economy
The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed.
The volume of losses have increased by one third since the last tally in August last year, underscoring 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.
"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," Reuters quoted Ian Massey, a spokesman for consultancy S-RM, as saying.
"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," Reuters quoted Ian Massey, a spokesman for consultancy S-RM, as saying.
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