In January 2024, eight international companies completed the process of exiting the Russian market through sale or liquidation of activities. This is stated in the KSE Institute digest.
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Who left Russia:
- Swedish network camera manufacturer Axis Communications (liquidation) Cyprus' largest banking and financial group – Bank of Cyprus (liquidation) Swiss institutional brokerage services provider Banque Cramer & Cie SA (liquidation) American oil giant ExxonMobil (liquidation) Polish mining manufacturer equipment Famur French global automotive supplier Faurecia German automotive logistics supplier GEFCO Group Greenlandic fishing company Royal Greenland
“It seems that after 2 years of war, some foreign owners have stopped futile attempts to find new buyers for their business in Russia and have started leave in a radical way through complete liquidation,” said Andrey Onoprienko, a researcher at the Kiev School of Economics and the head of the LeaveRussia.org project.
As of February 6, 2024, according to KSE, 356 global companies have completely left Russia, and 1,210 are in the process of exiting.
At the same time, the majority (2,138 or 58%) of international companies that had ties with Russia at the beginning of 2022 continue to conduct business on the territory of the aggressor state.
