Most global brands continue to do business in Russia, paying tens of billions of dollars in taxes annually, but only 387 have finally left the Russian market. In April, KSE experts tracked the exit of several other companies. Among them, in particular, are the food manufacturer and supplier Viciunai group, video game publisher and developer Gameloft, and others. 

These findings are part of the KSE Institute’s regular digest under the Self-Sanctions/LeaveRussia project, examining the repercussions of foreign business withdrawals on the Russian economy.

Last month, researchers identified six companies that left Russia through liquidation: stainless steel manufacturer Acerinox, battery manufacturer Banner Batterien, international dredging group DEME Group, popular video game developer Gameloft, American IT company Veeam (not previously included), and Danish wind turbine manufacturer and seller Vestas. 

Also, three companies managed to sell their businesses: the German manufacturer of material handling equipment KION Group, one of the largest producers of crab sticks and fish in Europe Viciunai group (after a long process, it sold its factory in Russia and gave up the rights to the VICI trademark in the region) and the WeWork coworking network.

At the same time, the KSE Institute updated the status of Maersk (leave) and Decathlon (exit). Thus, as of May 6, 2024, 2,175 international companies (57.7% of the total number of entries in the KSE database) continue to operate and do not plan to leave the Russian market. 

Another 1223 foreign firms, or about 32.3%, have curtailed operations and announced their intention to leave the Russian Federation. Only 387 (10.2% of the total number of entries in the KSE database or 26.4% of companies that generated revenue in Russia in 2022) have finally severed ties with the aggressor.