Foreign Corporations Exiting Russia Suffer Billions in Losses

March 28, 2024 (EIRNS)—Western corporations that have left Russia since February 2022 have suffered losses of more than $107 billion in writedowns and lost revenue, Reuters reported, citing an analysis of company filings and statements. “The volume of losses has increased by one-third since the last tally in August last year, underscoring the scale of the financial hit to the corporate world” after the start of Moscow’s special military operation in Ukraine in February 2022,” Reuters said. “Companies still aiming to exit Russia will likely face further difficulties and have to accept greater writedowns and losses,” Reuters quoted S-RM global risk consultancy’s Ian Massey, Head of Corporate Intelligence, Europe, Middle East, Africa (EMEA), as saying.