Four years on: how have Russia’s Western companies fared during the war?
More than 500 international companies have left Russia since the invasion of Ukraine in a mass exodus of Western businesses, writing off assets worth a combined $170 billion.
Four years after the invasion of Ukraine, the fortunes of Western companies that sold their assets to Russian entrepreneurs remain largely unchanged, according to a recent investigation by The Bell. Over 500 international businesses have left Russia since the start of the war, writing off assets worth $170 billion. These Western firms, which operated to high Western standards, were snapped up by local buyers at a fraction of their original value.
Despite the significant growth in Russian business overall, which has increased revenues by 40%, the ex-Western assets have recorded almost no growth. This indicates that the Russian entrepreneurs who acquired these assets have struggled to turn a profit, despite the high-quality operations they inherited.
Written by urgent.news from The Bell's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
