Between January and June 2026, KSE Institute recorded 18 full exits of foreign companies from the Russian market. This brought the total number of international companies that have fully exited Russia since the start of the full-scale invasion to 565. At the same time, 55% of the companies tracked by KSE Institute still operate in Russia.

These findings are presented in the monitoring by KSE Institute as part of its project “SelfSanctions / LeaveRussia,” aimed at assessing the economic impact of foreign companies exiting the Russian market.

The business liquidations recorded by KSE Institute in the first half of 2026 include European aerospace group Airbus, Germany’s Deutsche Bank, British chemicals company Ineos, Swiss executive search firm Egon Zehnder, Germany’s Formel D and Pepperl+Fuchs, Norway’s Hexagon Composites, Switzerland’s Phoenix Mecano and Finland’s Raute Corporation.

Another eight companies completed their exits through sales of Russian operations. These include U.S. financial group Citigroup, Greece’s Frigoglass, Germany’s Gigaset Communications and Hoffmann Group, France’s Haulotte Group, Japan’s Hino Motors and Mitsui & Co., and industrial gases company Linde.

One of the most notable exits was the completion of Citigroup’s sale of Citibank Russia. In 2025, the bank forgave outstanding loans for around 1,000 clients as it prepared to wind down its operations. In the first half of 2026, Citibank’s shares were transferred to Renaissance Capital, completing the banking group’s exit from the Russian market.

Despite the new exits, the overall pace remains slow. As of July 2026, only 565 international companies, or 13.1% of all entries in the KSE Institute database, had fully exited the Russian market. Another 1,373 companies, or 31.9%, had announced plans to leave or suspended operations. Meanwhile, 2,362 companies, or 55%, still remained in Russia.

Preliminary financial data for 2025 also indicate that the presence of foreign businesses in Russia remains significant. Combined revenue among companies for which KSE Institute has financial data stabilised at around $200.8 billion. Their net income, however, fell by 41% from $19.54 billion in 2024 to $11.51 billion in 2025, while profit tax payments declined by just 11.3% to $5.04 billion.

A detailed list of companies, their statuses, and recent updates can be accessed on the LeaveRussia platform. 

The next review of exits for the second half of 2026 will be released in early January 2027.