22.06.22 Sanctions Review

Since the start of the war at least half of the major foreign companies operating in Russia have limited their activities in one way or another, but another half stayed


The voluntary withdrawal of foreign businesses from Russia was one of the biggest shocks of the sanctions war and has received (and continues to receive) vast media coverage. According to the Yale School of Management, over 800 international companies have left the Russian market (59% of their total number) and over 400 companies have in this or that way limited their activities in Russia.

According to the Moscow-based Center for Strategic Research, about half of the 600 largest foreign companies operating in Russia have limited their business activities — and only 20% have left entirely.