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Swiss economists have found that less than 9% of EU and G7 companies have left Russia KXan 36 Daily News

Date: May 28, 2023 Time: 21:29:21

As noted in the report, the exit from Russia of companies from the EU and G7 countries turned out to be “very limited”. According to the researchers, as of February 24 last year, 2,405 affiliates of 1,404 organizations from the EU and G7 countries were operating in Russia. By the end of November, “less than nine percent of this group of companies had abandoned at least one branch in Russia,” and this “churn rate is unlikely to change during the fourth quarter of 2022,” the economists say.

These findings indicate that there was no mass exodus of Western companies from the Russian market. “In fact, many of them resisted the pressure from the authorities, the media and non-governmental organizations that pushed them to leave Russia,” the university said.

The study showed that since the start of the special operation, less than 18% of US companies, 15% of Japanese companies and less than 8.3% of EU companies have left Russia. Of the trade organizations of the EU states and the Group of Seven remaining in the Russian Federation, 19.5% are German companies, 12.4% – American, 7% – Japanese.

Earlier, economist Alexei Zubets told RG how the exit of foreign companies affected the Russian market. According to him, the average consumer almost did not notice its absence.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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