Nearly a year on from the supposed Russian exodus, most major companies have yet to withdraw
Publishing timestamp: 2023-01-31 12:10:35
Summary
A new report from Switzerland's University of St. Gallen found that by November 2022, fewer than 9% of EU and G-7 companies had divested at least one subsidiary in Russia, despite pledges to do so after Russian troops invaded Ukraine in February 2022. Barclays European consumer staples analysts noted that while most of companies they cover had pledged to exit Russia, few have managed to do so yet. The report also found that 19.5% of EU and G-7 companies remaining in Russia were German, 12.4% were American owned and 7% were Japanese multinationals. A U.K. think tank also highlighted that some of world's biggest companies have announced their planned exists by writing off assets rather than selling them.
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