While more than 1000 companies chose to leave the Russian market, almost 250 decided to stay, despite the Ukrainian crisis
Almost 250 international companies continue to operate in Russia, including more than 100 EU enterprises, according to a list compiled by Yale’s Chief Executive Leadership Institute.
Since the launch of the Russian military offensive in Ukraine in late February, the Institute has been tracking the responses of more than 1,200 companies.
“Over 1,000 companies have publicly announced they are voluntarily curtailing operations in Russia to some degree beyond the bare minimum legally required by international sanctions – but some companies have continued to operate in Russia undeterred,” it said.
Among 247 international companies that continue their activity in Russia, 116 originate from EU countries, including prominent brands such as Benetton, Diesel, Giorgio Armani, Lacoste, and Raiffeisen Bank, to name a few. Some American big names, such as Hard Rock Café, Tom Ford, and TGI Fridays also feature on the list of companies “that are just continuing business-as-usual in Russia.”
Russia pledges to ‘take care of’ foreign firms
]]>In response to Russia’s attack on Ukraine, the US, the EU, the UK and many other countries imposed hard-hitting sanctions on various sectors of the Russian economy. Since the end of February, hundreds of foreign companies, most recently Coca Cola, Ikea, and McDonald’s, announced the cessation of their operations in Russia.
Russia has been retaliating by imposing its own counter-sanctions against “unfriendly” countries and adopting measures against their companies.
At the same time, as Kremlin spokesman Dmitry Peskov said earlier this week, Russia will “take good care