Foreign businesses in Russia have lost over $170B during the war.

According to KSE, since the beginning of the full-scale Russian invasion of Ukraine the total losses suffered by foreign business operating in Russia have exceeded $170B. The bulk of the losses are asset write-offs – over $167B. Of these, over $57B are from companies whose assets were confiscated by Russian authorities. Companies also had to pay at least $3B as an “exit tax,” which became a mandatory condition for the sale of assets.

The most affected companies were from the US ($46B), Germany ($44.5B), Britain ($35.1B), France ($12.1B), Austria ($6.7B), and Finland ($5.1B). Among the largest losses are from British Petroleum (BP), Rosneft ($25.5B), and the nationalization of Uniper assets ($22B). Financial losses were largest in the energy sector with over $60B.

So far, 481 companies have completely left the Russian market, and 1,357 businesses have reduced their operations or are in the process of leaving. However, over 2,260 international companies continue to operate in Russia, generating profit and paying tax.