only 8.5% of EU and Group 7 companies have taken steps out of Russia or suspend their operations in country, a new Detect the report.
According to a report by the Swiss-based University of St. Gallen, despite the punishment decisions against Russia, the companies continue their relations with country as usual.
After Russia began what it called “special military proces” in her neighbor on February 24, 2022, many sectors and countries announced penalties or suspension for trying to apply pressure on Russians economy. Some companies have suspended operations and deliveries in Russia, while others have ended their investments or pulled out of their partnerships in Even Russia in Belarus.
The report said there are 2,405 subsidiaries owned by 1,404 European and Group 7 companies of April 2022 and just under 9% of closed or sold.
Confirmed exit by EU and G7 companies with equity stakes in Russia account for 6.5% of total Profit before taxes. like for European Union and Group of Seven companies with active Commercial Operations in Russia, with available information in ORBIS database, 8.6% of tangible fixed assets8.6% of total assets10.4% of operating revenue, and 15.3% of total The staff was found in the report.
the report also showed that there more Exits of foreign companies whose headquarters are located in the United States from that list in the European Union and Japan; Under 18% of The US subsidiaries have already stripped it.
Among those are the remaining EU and G7 companies in Russia, 19.5% German, 12.4% American owned and 7% Japanese multinational companies. added.
big brands
Other data released this week by Brand Finance showed that Western companies dominated the world’s top brands listIt has been observed that several global The brands have suspended operations in Mostly Russia in Walks.
summit global Brands, with the exception of some Chinese companies, were not active in Russians market because of her war on Ukraine since last February. There were 12 US brands among the top 25, followed by China with Seven, Germany with Three, South Korea, Japan and the United Kingdom with one.
The world’s largest Amazon brand has suspended operations in Russia on March 9, 2022, announcing that none had been accepted new Client in Russia and Belarus.
Apple, taking second place in The best brands listshe has also Everything hung official sales in Russia of March 2, 2022, and turned up off Selected applications and services in Country.
Google, ranked third valuable Some services suspended in Country in March 2022, such as the announcement and application market. After that, the Russian Communications Authority blocked Google services news services in The state is accused of serving of spread out false information about the war.
fourth most valuable Microsoft brand suspended new sales in Country on March 4, 2022, but according to Yale University researchthey are continuing allow Existing access in Country.
Fifth brand on The list Walmart with There are no operations in Russia of 2022 and some previous investments only plansMoscow closed office in 2010.
From Samsung to Starbucks, Mercedes to Disney and Shell, and other top brands also announced pendants.
While some brands still are active in Russia Even before the war, GSM Verizon and AT&T provided free services for Ukraine.
Chinese brands
The best Chinese brands, from Brand Finance’s listThink differently when it comes to Russia. According to Yale’s researchICBC China bank Russian downsizing access for capital markets. China based social media TikTok has suspended operations in Russia, while WeChat has not implemented any restrictions on Russia.
China Construction Bank and Agricultural Bank of China has allowed Russian companies to open accounts with the bank. State Grid Corporation of China and Kweichow Moutai Group’s business continues as usual.
