{"id":14034,"date":"2024-02-08T11:39:41","date_gmt":"2024-02-08T09:39:41","guid":{"rendered":"https:\/\/stage.kse.ua\/news\/only-356-or-less-than-10-of-foreign-companies-have-completely-severed-ties-with-russia-kse-research\/"},"modified":"2026-10-15T09:45:26","modified_gmt":"2026-10-15T09:45:26","slug":"only-356-or-less-than-10-of-foreign-companies-have-completely-severed-ties-with-russia-kse-research","status":"publish","type":"news","link":"https:\/\/kse.ua\/en\/news\/only-356-or-less-than-10-of-foreign-companies-have-completely-severed-ties-with-russia-kse-research\/","title":{"rendered":"Only 356 or less than 10% of foreign companies have completely severed ties with Russia &#8211; KSE research"},"content":{"rendered":"<p>Almost 1600 international companies continue operating in Russia, more than 540 are &#8220;waiting it out,&#8221; and only 356 have left the Russian market*. In January, researchers at the Kyiv School of Economics identified eight foreign companies that sold their businesses or went through liquidation.\u00a0<\/p>\n<p>These <a href=\"https:\/\/kse.ua\/en\/news\/61th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\/\">findings<\/a> are part of the KSE Institute&#8217;s regular digest under the <a href=\"https:\/\/kse.ua\/en\/kse-institute\/self-sanctions-leaverussia\/\">Self-Sanctions\/LeaveRussia<\/a> project, examining the repercussions of foreign business withdrawals on the Russian economy.<\/p>\n<p>In January 2024, KSE experts identified eight international companies that have finally left the Russian market, four of them through liquidation. These are <a href=\"https:\/\/leave-russia.org\/axis-communications\">Axis Communications<\/a>, a Swedish company that manufactures and sells network cameras and surveillance systems; <a href=\"https:\/\/leave-russia.org\/bank-of-cyprus\">Bank of Cyprus<\/a>, the largest banking and financial group in Cyprus; and <a href=\"https:\/\/leave-russia.org\/banque-cramer-and-cie\">Banque Cramer &amp; Cie SA<\/a>, a Swiss company that provides institutional brokerage services; and <a href=\"https:\/\/leave-russia.org\/exxonmobil\">ExxonMobil<\/a>, an American multinational oil and gas corporation.<\/p>\n<p>The other four were sold, in particular: <a href=\"https:\/\/leave-russia.org\/famur\">Famur<\/a>, a Polish manufacturer of machinery for the mining industry; <a href=\"https:\/\/leave-russia.org\/faurecia\">Faurecia<\/a>, a French automotive supplier; <a href=\"https:\/\/leave-russia.org\/gefco-group\">GEFCO Group<\/a>, one of the top ten transport and logistics groups in Europe; and <a href=\"https:\/\/leave-russia.org\/royal-greenland\">Royal Greenland<\/a>, a fishing company.<\/p>\n<p><i>&#8220;Most likely, after almost two years of full-scale invasion, the owners of international companies that had business in Russia gave up futile attempts to sell their businesses and decided to exit radically &#8211; through complete liquidation,&#8221; says Andrii Onopriienko, Deputy Development Director at KSE and head of the <\/i><a href=\"https:\/\/leave-russia.org\/\"><i>LeaveRussia.org<\/i><\/a><i> project.<\/i><\/p>\n<p>As of February 4, 2024, 356 international companies (9.6% of the total number of entries in the KSE database or 27.8% of the companies that generated revenue in Russia in 2022) have entirely ceased operations in Russia. As of 2021, they had over half a million employees, $93.1 billion in annual revenue, $46.1 billion in capital, and $71.9 billion in assets.<\/p>\n<p>In addition, 1210 (32.7% of the total) companies have curtailed operations and announced their intention to leave the aggressor country. At the same time, 1,594 (43% of the total) of the companies monitored by the KSE Institute are not going to leave the Russian market and are continuing to operate without any changes. Another 544 (14.7% of the total) have suspended new investments and continue to wait.<\/p>\n<p>*Next month, KSE Institute plans to move companies from the &#8220;wait&#8221; status to the &#8220;stay&#8221; group, as two years of full-scale invasion have given enough time for more active and decisive actions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Almost 1600 international companies continue operating in Russia, more than 540 are &#8220;waiting it out,&#8221; and only 356 have left the Russian market*. In January, researchers at the Kyiv School of Economics identified eight foreign companies that sold their businesses or went through liquidation. These findings are part of the KSE Institute&#8217;s regular digest under\u2026<\/p>\n","protected":false},"featured_media":7813,"template":"","categories":[251],"tags":[272],"department":[],"news_type":[224],"project":[270],"region":[108],"unit":[223],"class_list":["post-14034","news","type-news","status-publish","has-post-thumbnail","hentry","category-sanctions-en","tag-self-sanctions-en","news_type-research","project-leave-russia-en","region-russia","unit-institute-en"],"acf":{"primary_unit":223,"news_intro":"","header_cta_mode":"event","header_event_cta_text":"\u0414\u043e \u043f\u043e\u0434\u0456\u0457","header_event_cta_url":"","header_research_cta_text":"\u0427\u0438\u0442\u0430\u0442\u0438 \u0432\u0441\u0435 \u0434\u043e\u0441\u043b\u0456\u0434\u0436\u0435\u043d\u043d\u044f","header_research_pdf":null,"author_person":"","author_name":"","related_news":null,"related_events":[],"related_people":[],"related_links":null,"external_link":"","external_link_label":"","is_featured":false,"is_featured_archive":false,"quote_text":"","quote_author":"","quote_author_role":"","program_title":"\u0424\u043e\u0440\u043c\u0430\u0442 \u043f\u0440\u043e\u0433\u0440\u0430\u043c\u0438","program_items":null,"reference_title":"\u0414\u043e\u0432\u0456\u0434\u043a\u0430","reference_content":"","source_system":"migration","source_id":"58635","content_owner":"kse","last_reviewed":null,"visibility":"public","platform_id":"","platform_version":"","platform_managed":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Only 356 or less than 10% of foreign companies have completely severed ties with Russia - KSE research - KSE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kse.ua\/en\/news\/only-356-or-less-than-10-of-foreign-companies-have-completely-severed-ties-with-russia-kse-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Only 356 or less than 10% of foreign companies have completely severed ties with Russia - KSE research\" \/>\n<meta property=\"og:description\" content=\"Almost 1600 international companies continue operating in Russia, more than 540 are &quot;waiting it out,&quot; and only 356 have left the Russian market*. 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