Russia has blocked repatriating $18B in dividends from Western companies. Companies could not withdraw approximately $18B by the end of 2022, writes the FT. “Tens of billions of dollars are stuck in Russia. And there is no way to get them out,” the general direc... #Dividends #ForeignCompanies #RussianMarket #WesternCompaniesInRussia
Yale University has named the companies that are still working in Russia. Yale University professor Jeff Sonnenfeld and his team investigated large companies that are still working in Russia despite their promise to leave the market. Among them were such well-known companie... #JeffSonnenfeld #RussianMarket #SanctionsAgainstRussia #WesternCompaniesInRussia #YaleUniversity
The ECB urges banks to quicken their exit from the Russian Market. The European Central Bank is pushing lenders from the region that still have operations in Russia to accelerate plans to shrink or exit units in the market after President Vladimir Putin’s full-scale ... #AndreaEnria #ECB #ForeignCompaniesInRussia #RaiffeisenbankRussia #RussianMarket
The EU will ease sanctions to help European companies leave the Russian market. EU countries fear their companies will have to pay taxes introduced by the Russian government to finance the war. Therefore, the 11th package of sanctions against Russia will include special permits f... #EUsanctionsPackage #ForeignCompaniesInRussia #RussianMarket #SanctionsAgainstRussia
More than 20 companies, including KFC and Mercedes-Benz, left the Russian market in April. According to a KSE Institute study only 18.2% of foreign companies that had opened local operations and processed sales in Russia have completely ceased their activities and finally left the Russian m... #CompaniesleftRussia #ForeignCompaniesInRussia #RussianMarket
About 40% of foreign companies continue to work in Russia. As of February 12, only 6.2% of foreign businesses have closed their operations and exited the Russian market. At the same time, 39.7% of companies continue to work in the Russian Federation without r... #ForeignCompaniesInRussia #RussianMarket
Only 6% of foreign companies have left Russia, and 40% do not plan to do so. 177 companies with foreign capital have left the Russian market, which is 6% of the total number. Another 1,156 businesses (38%) have closed operations and are in the process of exiting the market. Ho... #ForeignCompaniesInRussia #RussianMarket
The NBU has called on international banks to withdraw from the Russian market. The National Bank of Ukraine emphasized the impermissibility of international banks’ cooperation with Russia and Belarus and called on them to fulfill their promises and finally withdraw from th... #InternationalBanksInRussia #nbu #RussianMarket
Russia demands a 10% kickback and 50% discount from Western companies upon exiting its market. The Ministry of Finance of Russia has established four criteria for selling Russian assets by Western companies from so-called unfriendly countries. One of them is a percentage of the deal amount, sou... #RussianMarket #WesternCompaniesInRussia
More than 1,000 foreign companies remain in the Russian market. Today, 1,169 international companies continue to operate on the territory of the aggressor country, although many companies have left the Russian market, according to a study by the Kyiv School of Eco... #CompaniesInRussia #Kyivschoolofeconomics #RussianMarket
