An analysis carried out by Reuters shows that foreign companies have lost approximately 107 billion dollars, around 1,158 billion kroner given today’s exchange rate, in write-downs and lost income after the emigration from Russia.
According to Reuters, a third of the loss has come after August last year.
“Companies still aiming to pull out of Russia are likely to face further difficulties, having to accept larger write-downs and losses,” said Ian Massey, head of corporate intelligence at global risk consultancy S-RM.
So far this year, asset sales at Shell, HSBC, Polymetal International and Yandex NV have been sold, for a sum of almost $10 billion at a discount of up to 90 percent. Last week, France’s Danone also said it had approved the sale of its Russian assets, which led to a loss of $1.3 billion.
Since Russia invaded Ukraine in 2022, approximately 1,000 foreign companies have withdrawn from the country. For Norway, this includes, among others, Wallenius Wilhelmsen, Orkla, Equinor, Jotun and Yara.
According to Reuters, there are still several foreign companies operating in Russia, including Mondelez International, PepsiCo, Nestle, Unilever and Reckitt.
