More than 1,000 companies have left Russia since war with Ukraine began: Report

More than 1000 companies have pulled back from Russia since it began its military offensive in Ukraine. According to statistics given by Kyiv School of Ecomics, as many as 1037 companies have left Russia and 438 ors have reduced ir operations in country. Kyiv School of Ecomics has ted that 590 companies continue to operate in Russia. 

It is to mention here that companies have anunced exit, suspension and scaling down of operations after Russia launched a military offensive in Ukraine on February 24. As of May 29, companies that declared a complete withdrawal from Russia h $32.5 billion (₹25,24,01,33,75,000) in revenues and $19.9 billion (₹15,45,47,28,05,000) in capital, according to statistics given by Kyiv School of Ecomics in report. Companies that have suspended ir operations in Russian market h yearly revenue of $58.7 billion (₹45,59,02,64,85,000) and $32.7 billion (₹25,39,91,85,45,000) in capital. 

28.6% companies continue to operate in Russia 

Kyiv School of Ecomics said that more than half of companies (50.2%) have alrey anunced ir withdrawal from Russian market. Furrmore, 28.6% of companies continue to operate in Russia. Kyiv School of Ecomics identified about 2,065 companies and organizations from 70 countries as well as 55 industries and analyzed ir operation in Russian market. Kyiv School of Ecomics in report said that agricultural companies hold back in Russia. However, y have anunced scaling down ir operations in country. se agricultural companies include Archer Daniels Midland (M), Bunge, Cargill and Louis Dreyfus.

Operation of Companies in Russia following February 24

According to Yale School of Ecomics, companies that have suspended nearly all operations or temporarily curtailing most include idas, Air France, Marks & Spencer, McCain Foods, Air Astana, Alphabet, Amazon, Amway, Audi, Burger King, Can, Chanel, Disney, Mango, Electrolux, Ford, H&M and IBM and ors. companies who have scaled down ir business operations include obe, Bosch, Carrier, JPMorgan, Maruti Suzuki, Pepsi and Whirlpool and ors. Companies that continue to function as usual in Russia include Haier, Acerix, Air China, Antal, Benetton, Diesel, Oppo, Emirates Airlines and Gioergio Armani and ors.

Im: AP