Economics & Finance

Western companies suffered over $103 billion losses after withdrawal from Russia

by Sputnik Globe

Western companies that announced their withdrawal from Russia following the start of Russia’s special military operation in Ukraine in 2022, suffered losses of more than $103 billion, The New York Times reported on Sunday.
The report noted that Russia has been able to benefit from the departure of companies, including by dictating conditions for them to withdraw their businesses from Russia.
In addition, the report said that while Ukraine was preoccupied with short-term imperatives, such as pleading for more aid, the stability of the Russian economy allowed Moscow to play a long game.
After the start of Russia’s military operation in Ukraine on February 24, 2022, Western countries significantly expanded their list of sanctions against Moscow. The European Union, in particular, has already adopted 11 sanctions packages.
Sputnik Globe
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