{"id":14600,"date":"2025-05-06T11:58:59","date_gmt":"2025-05-06T09:58:59","guid":{"rendered":"https:\/\/stage.kse.ua\/news\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\/"},"modified":"2026-10-14T11:45:46","modified_gmt":"2026-10-14T11:45:46","slug":"76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy","status":"publish","type":"news","link":"https:\/\/kse.ua\/en\/news\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\/","title":{"rendered":"76th issue of the regular digest on impact of foreign companies’ exit on RF economy"},"content":{"rendered":"

We will continue to provide updated information on a quarterly basis<\/i><\/b>.<\/i><\/p>\n

Prepared by the KSE Institute team and KSE members of the Board of Directors; <\/i>04.04.2025-05.05.2025
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Disclaimer: At the beginning of the Russian invasion of Ukraine KSE Institute launched an analytical project, which was named \u201cSelfSanctions\u201d, aimed to collect data on foreign companies operating in the Russian market and limiting or terminating their activities. Examination of data was conducted jointly with specialists from the Ministry of Economy, the Ministry of Foreign Affairs and the Ministry of Digital Transformation of Ukraine. The database contains a lot of information, we collect daily statistics on changes in the status of foreign companies operating\/operated in the Russian market and limiting or terminating their activities. Also, we created the Telegram bot https:\/\/t.me\/exit_ru_bot<\/a> for tracking\/monitoring of news on priority foreign companies (coverage 1, 2, 3 or 7 days of monitoring). Also, we do regular analysis of changes in share prices and capitalization of parent groups of companies that have or have had business in Russia.<\/em><\/p>\n

KSE database is partly based on the Yale\u2019s School of Management database<\/a>, the University of St.Gallen latest Paper<\/a>, epravda.com.ua<\/a>, squeezingputin.com<\/a>, https:\/\/bloody.energy\/<\/a> and leave-russia.org<\/a> websites and other open sources. Data is verified and KSE status is assigned. Data on stocks is taken from Google and Yahoo Finance. At the same time, the KSE database is more complete and comprehensive and contains much more information than most other similar databases, as it also includes data on number of staff, revenue, capital and other financial indicators, the latest updates and changes in statuses, links to used sources, and daily updates from the telegram-bot etc.<\/p>\n

KSE Institute and Leave Russia project are the part of <\/i>B4Ukraine Coalition<\/i><\/a> since mid-2022.<\/i><\/p>\n

KSE Institute is glad to announce have finalized merging <\/a>with project leave-russia.org<\/a> which was developed by a team of volunteers.<\/p>\n

Also, we developed an application in the\u00a0 Apple Store<\/b><\/a> which is available only for mobile devices in addition to our Telegram bot https:\/\/t.me\/exit_ru_bot<\/a>. It allows you to find any brand or company that is operating in Russia just by scanning barcodes.<\/i><\/p>\n

On February 24, 2024 KSE Institute merged KSE status \u201cwait\u201d with status \u201cstay\u201d as 2 years of the war gave enough time for companies to leave Russia<\/b><\/i>KSE DATABASE SNAPSHOT as of 05.05.2025<\/b><\/p>\n

Number of the companies that continue Russian operations<\/b> (KSE\u2019s status \u00abstay<\/b>\u00bb\u00b9<\/b>) \u2013 2 285\u00b2 (+15 per month<\/b>)<\/b><\/p>\n

Number of the companies that have curtailed Russian operations<\/b> (KSE\u2019s status \u00ableave<\/b>\u00bb<\/b>) \u2013 1 359 (+1 per month)<\/b><\/p>\n

Number of the companies that completed withdrawal from Russia<\/b> (KSE\u2019s status \u201cexited<\/b>\u201d) \u2013 494 (+7 per month)<\/b><\/p>\n

As of May 5, 2025,<\/b> we have identified about 4,138 companies, organizations and their brands from 109 countries and 58 industries<\/b> and analyzed their position on the Russian market. About 40% of them are public ones, for ~1\u2019629 public groups of companies<\/b>, we also identified (where it was possible) their operating business in Russia (the presence of a controlling stake in a legal entity and revenue received) and found the data for 2021 before invasion was started, which allowed us to calculate the value of capital invested in the country (about $195.1 billion<\/b>), local revenue (about $320.0 billion<\/b>), local assets (about $350.7 billion<\/b>) as well as staff (about 1.454 million people<\/b>) and taxes paid (about $25.7 billion<\/b>). 1,359 foreign companies<\/b> have suspended or ceased operations in Russia. Also, we added information about 494<\/b> companies that have completed the sale\/liquidation of their business in Russia<\/a> based on the information collected from the official registers (4 business sales, and 3 business liquidations took place in April 2025).<\/p>\n

As can be seen from the tables below, as of May 5, 2025, 494 <\/b>companies which had already completely exited from the Russian Federation, in 2021 had at least 582,100 personnel<\/b>, $107.3 bn in annual revenue<\/b>, $56.3bn in capital <\/b>and $93.3bn in assets<\/b>; companies, that declared a complete withdrawal from Russia had 225,400 personnel<\/b>, $39.6bn in revenues<\/b>, $18.5bn in capital <\/b>and $41.5bn in assets<\/b>; companies that suspended operations on the Russian market had 100,500 personnel<\/b>, annual revenue of $35.6bn<\/b>, $36.2bn in capital <\/b>and $85.7bn in assets<\/b>.<\/p>\n

\"RF_06_05_2025_ENG2\"<\/figure>\n

If since the beginning of the Russian invasion of Ukraine, the percentage of companies that closed operations in Russia has risen sharply by mid-April 2022, in the last 32 months the ratio of those who leave or stay is virtually unchanged, although we still see a periodic increase in the share of those companies that remain in the Russian market (by adding new companies to the database, 23 were added in April 2025). However, if to operate with the total numbers<\/b> in KSE database, about 32.8% of foreign companies have already announced their withdrawal from the Russian market or suspended their activity, but another 55.2% are still remaining in the country and only 12.0% made a complete exit\u00b3<\/p>\n

At the same time, it is difficult not to overestimate the impact on the Russian economy of 494 companies that completely left the country, since in 2021 they employed 40.0% of the personnel employed in foreign companies, the companies owned about 26.6% of the assets, had 28.8% of capital invested by foreign companies, and in 2021 they generated revenue of $107.3 billion or 33.5% of total revenue and paid ~$6.1 billion of taxes or 23.7% of total taxes paid by the companies observed. Data on 1,629 TOP companies is presented in the table above.<\/p>\n

\"RF_06_05_2025_ENG3\"<\/figure>\n
\"RF_06_05_2025_ENG4\"<\/figure>\n

In September 2024, KSE Institute published a study entitled \u201cWhat are the financial results of foreign business in Russia in 2023, and have exit rates slowed down?<\/i><\/b><\/a>\u201d where, among other things, we estimated that over the two years since the full-scale invasion, Russia has lost USD 125 billion in revenue from Western companies, equivalent to about 5.6% of the country\u2019s GDP. You can download its full text in English here: https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4961551<\/a>.<\/p>\n

On January 13, 2025 the new research<\/b> was published by the B4Ukraine<\/a> coalition in collaboration with the Kyiv School of Economics and Squeezing Putin<\/a> which reveals how foreign businesses, including many household names, continue to channel billions in taxes to the Russian state nearly three years into its war on Ukraine. The report named \u201c<\/i>Corporate Enablers of Russia\u2019s War in Ukraine: A Closer Look at Multinational Taxes and Revenue in Russia in 2023<\/i><\/b>\u201d<\/i><\/a> calls on companies to make a swift responsible exit from the Russian market and urges the G7 and allied countries to establish standards for corporate behavior, promoting immediate exits from the Russian market.<\/p>\n

Also, at the end of February 2025, the KSE Institute published the study \u201c<\/b>Assessing foreign companies\u2019 direct losses in Russia: financial impact, market consequences, and strategic adjustments<\/i><\/b><\/a>\u201d<\/b> where, among other things, we estimated that Foreign businesses\u2019 direct losses in Russia exceed $170 billion due to write-offs, seizures, unfair court rulings, and exit taxes. You can download its full text in English here: https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=5149548<\/a><\/p>\n

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Analysis of data for 2022-2023<\/b><\/p>\n

KSE Institute has already published detailed data for 2022-2023 many times. Nowon we will provide just summary tables with key statistics. Once we receive new data for 2024 – we will provide it for comparison as well.<\/p>\n

\"RF_06_05_2025_ENG5\"<\/figure>\n

MONTHLY FOCUS: On leaving the Russian Federation. Results of April 2025<\/b><\/p>\n

In this digest, we will summarize the results of April 2025 and provide year-to-date statistics on full exits since the beginning of the war.<\/p>\n

\"RF_06_05_2025_ENG6\"<\/figure>\n

In our project, we pay special attention to companies that have their own legal entities in Russia, pay taxes, hire staff, etc.\u00a0<\/p>\n

We would like to remind you that we assign the status of \u201cexited\u201d exclusively based on the results of changes in the composition of company owners in the Russian Federation reflected in the official register, or when the closing of the transaction was notified in another official way (for example, in press releases or during the disclosure of information on the Stock Exchange by public companies) or based on company\u2019s liquidation.There are about 1\u2019629 companies identified in the KSE database with revenue data available of about $320 billion in 2021 and $245.9 billion in 2022 (which dropped to ~$198.1 billion in 2023). And at least 494 of them have already been sold by local companies or were liquidated and left the Russian market. In April 2025 KSE Institute identified +7 new exits (4 business sales, and 3 liquidations took place in April 2025)\u2074<\/b>, <\/b>total number<\/b> of exits observed since the beginning of Russia’s invasion reached 494<\/b>. Also, 2 new business seizures took place in April 2025 (<\/b>Silgan Holdings<\/b><\/a> and <\/b>STADA<\/b><\/a>).<\/b><\/p>\n

Geography is the most important factor that explains companies’ decisions. Companies from “unfriendly countries” (a term coined by the Russian Federation to describe countries that joined the international sanctions policy against the Russian Federation in response to its invasion of Ukraine) are much more likely to exit.<\/p>\n

Here are also the breakdowns by countries and by industries of the companies which already exited:<\/p>\n

\"RF_06_05_2025_ENG7\"<\/figure>\n

So, as of the end of April 2025, companies from 39 countries<\/b> and 45 industries<\/b> have already exited showing their true reaction to the war started by Russia and its not provoked aggression against Ukraine. Most of the companies were headquartered in the USA, Germany, Finland, Great Britain, France and Sweden and operated in the \u201cAutomotive\u201d, \u201cElectronics\u201d, \u201cConsumer goods and closing\u201d, \u201cFinance and payments\u201d, \u201cConstruction & Architecture\u201d, \u201cEnergy, oil and gas\u201d, \u201cIndustrial equipment\u201d and \u201cIT\u201d industries.<\/p>\n

For a more accurate explanation of the behavior of companies, it is necessary to take into account several factors at the same time. According to our analysis, companies in the technological and communication sector are most prone to exit (as opposed to those who remain in the Russian Federation). Partially due to the fact that they have fewer physical assets in the Russian Federation than in the production sectors. Companies that produce products for the daily consumption of the population in the Russian Federation are less likely to leave (this is one of their key explanations why they do not leave). Pharmaceutical companies that explain their decisions by concern for public health tend to be the \u201cstaying\u201d companies.<\/p>\n

Companies with larger local revenue and public companies are also inclined to leave the market: presumably, large multinational corporations are more responsible for their reputation and respond to investors’ requests. In addition, it is likely that the exit of the largest multinationals from the Russian Federation is not as painful for them for global business as it is for smaller companies, for which the share of the Russian market can be significant.<\/p>\n

Here is the list of \u201cexiters\u201d that we were able to identify recently: IDEMIA<\/b><\/a> (liquidated), ITT Inc.<\/b><\/a> (initiated liquidation) and YKK Group<\/b><\/a> (liquidated). Also, 4 business sales were accounted for in April 2025<\/b>: Caterpillar<\/b><\/a> (One of the world’s largest manufacturers of construction and mining equipment located in the United States. In fact, the sale happened in June 2024 when Putin accepted the sale and most of Caterpillar’s Russian assets were transferred to the firm owned by the Armenian fund. The remaining legal entities saw their revenues fall significantly or to 0 in 2024 so formally the company is fully exited), Goldman Sachs<\/b><\/a> (the American bank Goldman Sachs had closed a deal with CJSC \u201cBalchug Capital\u201d who became the owner of a 100% stake in Russian Goldman Sachs Bank on April 23), HDI Global SE<\/b><\/a> (German insurance company HDI Global has sold its business in Russia. The company had been part of the German insurance group for the past 15 years. According to SPARK, the Russian subsidiary came under the control of one of the partners of the consulting firm Russia Partners. A subsidiary of the German insurance company HDI Global SE has changed its name to SK Ganza) and Metabowerke<\/b><\/a>.<\/p>\n

Additionally assets of 2 more companies were partly seized<\/b> with unfair decisions in April 2025<\/b> (but we don\u2019t change their statuses to \u201cexited\u201d as there were no changes in ownership structures and companies can appeal these decisions): STADA<\/b><\/a> (Vladimir Putin has transferred the management of one of Russia’s largest pharmaceutical manufacturers, Nizhpharm, under temporary control. The decree applies to 100% of the shares owned by Luxembourg-based Nidda Lynx S.A.R.L., which is part of the German Stada group. The new temporary manager of the assets is the Russian company Farmirus. It was founded in 2020 and specializes in the supply of medicines. In 2022, the company operated at a loss with revenue of about 92 million rubles or ~$1 million) and Silgan Metal Packaging<\/b><\/a>, part of Silgan Holdings<\/b><\/a> (The Russian assets of a major Austrian-American manufacturer of metal food packaging Silgan Holdings, which were transferred to the Federal Property Management Agency in the summer of 2024, ended up under the control of a company owned by the Republic of Adygea. This is evidenced by data from the Unified State Register of Legal Entities).<\/p>\n

Also, in April 2025 <\/b>Belgian developer Ghelamco<\/b><\/a> has agreed to sell its only asset in Russia and a pharmaceutical company based in Prague, Czech Republic Zentiva<\/b><\/a> sells operations in Russia and CIS markets, no details disclosed officially so far.<\/p>\n

To read more details on 32 identified cases of full and partial business seizures in Russia – please read our new study named \u201c<\/b>Assessing foreign companies’ direct losses in Russia: financial impact, market consequences, and strategic adjustments<\/i><\/b><\/a>\u201d.<\/b><\/p>\n

The next review of deals for May-June 2025 and 2nd quarter will be available in early July<\/b>.<\/p>\n

What\u2019s new last month – key news from Daily monitoring <\/b><\/p>\n

(updated on a monthly basis)<\/b>\u2075<\/b><\/p>\n

01.04.2025<\/h3>\n

? NRJ Group<\/b> (France, Media) Status by KSE – stay<\/i>
\nIn tune with the killers: A French radio brand broadcasting in occupied Ukraine is running enlistment ads for the Russian army
\nhttps:\/\/theins.ru\/en\/inv\/280133
\n<\/a>? Hindustan Petroleum<\/b> (India, Energy, oil and gas) Status by KSE – stay<\/i>
\n? Bharat Petroleum (BPCL)<\/b> (India, Energy, oil and gas) Status by KSE – stay<\/i>
\nTrump\u2019s Russian Oil Threat Pushes India to Seek Alternatives
\nhttps:\/\/www.bloomberg.com\/news\/articles\/2025-04-01\/trump-s-russian-oil-threat-pushes-india-to-seek-alternatives
\n<\/a>? Vitol Group<\/b> (Switzerland, Energy, oil and gas) Status by KSE – stay<\/i>
\n? Gunvor Group<\/b> (Switzerland, Energy, oil and gas) Status by KSE – stay<\/i>
\nCommodity traders Gunvor, Vitol queue to stock up on Russian aluminium from LME storage, sources say
\nhttps:\/\/www.reuters.com\/markets\/commodities\/commodity-traders-gunvor-vitol-queue-stock-up-russian-aluminium-lme-storage-2025-03-31\/
\n<\/a>? Hindustan Aeronautics Ltd<\/b> (India, Aerospace) Status by KSE – stay<\/i>
\nHAL has followed end-user commitments, report in US daily on re-routing restricted tech to Russia “incorrect, misleading”
\nhttps:\/\/www.tribuneindia.com\/news\/world\/hal-has-followed-end-user-commitments-report-in-us-daily-on-re-routing-restricted-tech-to-russia-incorrect-misleading-sources\/
\n<\/a>? Airbus<\/b> (Netherlands, Aircraft industry) Status by KSE – stay<\/i>
\nAirbus Defence and Space has replaced a Russian corporation in a European project to search for signs of life on Mars
\nhttps:\/\/www.bbc.com\/news\/articles\/c1egpwqw4vjo
\n<\/a>? Okeanis Eco Tankers<\/b> (Greece, Energy, oil and gas) Status by KSE – stay<\/i>
\nWas Aristidis Alafouzos, CEO of Okeanis Eco Tankers, cheering over extra earnings from carrying \u2018sanctioned\u2019 Russian oil?
\nhttps:\/\/www.tovima.com\/finance\/was-aristidis-alafouzos-ceo-of-okeanis-eco-tankers-cheering-over-extra-earnings-from-carrying-sanctioned-russian-oil<\/a><\/p>\n

02.04.2025<\/h3>\n

? HR Smith Group \/ Techtest<\/b> (Great Britain, Aerospace) Status by KSE – stay<\/i>
\nUK Firm Trashes New York Times Report On “Sensitive Tech Transfer” To Russia Via HAL
\nhttps:\/\/www.ndtv.com\/world-news\/uk-firm-trashes-new-york-times-report-on-sensitive-tech-transfer-to-russia-via-hal-8058614
\n<\/a>? Google<\/b> (USA, Online Services) Status by KSE – exited<\/i>
\nGoogle LLC won a court order preventing a Russian media company from compelling the tech giant to restore its Google account, after a Russian court ordered the company to do so
\nhttps:\/\/news.bloomberglaw.com\/business-and-practice\/google-wins-us-order-blocking-enforcement-of-russian-court-fine
\n<\/a>? Goldman Sachs<\/b> (USA, Finance and payments) Status by KSE – leave<\/i>
\nGoldman Sachs to Sell Russian Shares to Balchug Capital
\nhttps:\/\/www.kommersant.ru\/doc\/7623485<\/a><\/p>\n

03.04.2025<\/h3>\n

? UniCredit Bank<\/b> (Italy, Finance and payments) Status by KSE – stay<\/i>
\nUniCredit flags risk ECB may take further steps on Russia
\nhttps:\/\/www.reuters.com\/business\/finance\/unicredit-flags-risk-ecb-may-take-further-steps-russia-2025-04-02\/
\n<\/a>? Microsoft<\/b> (USA, IT) Status by KSE – leave<\/i>
\nMicrosoft continues to reduce its presence in Russia, closing 13 branches and divisions in December 2024 and January 2025
\nhttps:\/\/www.moscowtimes.ru\/2025\/04\/02\/microsoft-srochno-zakrila-ofisi-v-13-gorodah-rossii-a159909
\n<\/a>https:\/\/english.nv.ua\/business\/microsoft-reduces-presence-in-russia-closes-13-branches-50502991.html
\n<\/a>? Airbus<\/b> (Netherlands, Aircraft industry) Status by KSE – stay<\/i>
\n? Boeing<\/b> (USA, Aircraft industry) Status by KSE – leave<\/i>
\nAlikhanov announced the blocking of $500 million worth of aircraft spare parts paid for in the United States
\nhttps:\/\/www.forbes.ru\/biznes\/533986-alihanov-soobsil-o-blokirovke-v-ssa-oplacennyh-zapcastej-dla-samoletov-na-500-mln<\/a><\/p>\n

04.04.2025<\/h3>\n

? Raiffeisen<\/b> (Austria, Finance and payments) Status by KSE – stay<\/i>
\nRaiffeisen Bank\u2019s AGM disrupted by protests over ties to sanctioned Russian companies
\nhttps:\/\/www.manifest.co.uk\/raiffeisen-banks-agm-disrupted-by-protests-over-ties-to-sanctioned-russian-companies\/
\n<\/a>? Summit Ascent Holdings<\/b> (China, Hospitality, Real estate) Status by KSE – stay<\/i>
\nSummit Ascent expecting to record US$5 million profit for FY24 on improved Russia casino performance
\nhttps:\/\/asgam.com\/2025\/04\/01\/summit-ascent-expecting-to-record-us5-million-profit-for-fy24-on-improved-russia-casino-performance\/<\/a><\/p>\n

05.04.2025<\/h3>\n

? AstraZeneca<\/b> (Great Britain, Pharma, Healthcare) Status by KSE – stay<\/i>
\nThe Anglo-Swedish biopharmaceutical company AstraZeneca has presented its report for 2024.
\nhttps:\/\/gxpnews.net\/en\/2025\/04\/the-russian-astrazeneca-plant-had-the-maximum-net-profit-since-2015\/
\n<\/a>? Radio Free Europe<\/b> (Czech Republic, Media) Status by KSE – leave<\/i>
\nThe U.S. Agency for Global Media (USAGM) has terminated contracts with two satellite systems that carry Russian-language content produced by Current Time, a network run by Radio Free Europe, amid a fight to shut down the operations of numerous U.S.-funded broadcasters.
\nhttps:\/\/en.vijesti.me\/amp\/753019\/USAGM-cancels-part-of-the-satellite-broadcast-of-Radio-Free-Europe%27s-Russian-language-programming<\/a><\/p>\n

06.04.2025<\/h3>\n

? Kennel & Schmenger<\/b> (Germany, Consumer goods and clothing) Status by KSE – stay<\/i>
\n? De’Longhi<\/b> (Italy, Electronics) Status by KSE – stay<\/i>
\n? Jinkailai<\/b> (China, FMCG) Status by KSE – stay<\/i>
\n? Gaissina<\/b> (Kazakhstan, Consumer goods and clothing) Status by KSE – stay<\/i>
\nLack of retail space slows down the launch of new brands
\nhttps:\/\/www.kommersant.ru\/doc\/7638921
\n<\/a>? International Gymnastics Federation<\/b> (Switzerland, Sport) Status by KSE – stay<\/i>
\nRussian athletes who have received neutral status will not participate in the upcoming tournaments under the auspices of the International Gymnastics Federation (FIG), the press service of the Russian Gymnastics Federation (RGF) reported.
\nhttps:\/\/www.kommersant.ru\/doc\/7638575<\/a><\/p>\n

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07.04.2025<\/h3>\n

? STADA<\/b> (Germany, Pharma, Healthcare) Status by KSE – leave<\/i>
\nVladimir Putin has transferred the management of one of Russia’s largest pharmaceutical manufacturers, Nizhpharm, under temporary control.
\nhttps:\/\/epravda.com.ua\/biznes\/putin-peredav-upravlinnya-nizhfarmom-rosiyskiy-kompaniji-zamist-nimeckoji-805169\/
\n<\/a>https:\/\/t.me\/thebell_io\/32068<\/a><\/p>\n

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09.04.2025<\/h3>\n

? Misgaran<\/b> (Afghanistan, FMCG) Status by KSE – stay<\/i>
\nAfghan pressure cooker manufacturer Misgaran has filed an application with Rospatent to register its trademark
\nhttps:\/\/tass.ru\/ekonomika\/23633685
\n<\/a>? Essity<\/b> (Sweden, FMCG) Status by KSE – exited<\/i>
\nThe company managing the former assets of the Swedish paper manufacturer Essity has changed owners. Among them are Nikolai Gushchin-Kuznetsov, who may be associated with the Guta group of Yuri Gushchin, as well as funds managed by a Gazprombank structure.
\nhttps:\/\/www.kommersant.ru\/doc\/7640747
\n<\/a>? Tommy Hilfiger<\/b> (USA, Consumer goods and clothing) Status by KSE – leave<\/i>
\nThe Russian fashion market may be left by the distributor Retail Story, which supplied products of the American brand Tommy Hilfiger to the Russian Federation, in particular.
\nhttps:\/\/fashionbuzz.media\/news\/tpost\/12fzlcddx1-bivshii-distributor-tommy-hilfiger-v-ros<\/a><\/p>\n

10.04.2025<\/h3>\n

? National Institutes of Health (NIH)<\/b> (USA, Events, Education) Status by KSE – leave<\/i>
\nThe Trump administration has blocked access to multiple data repositories maintained by the National Institutes of Health (NIH) for researchers in several countries, including a cancer statistics database used heavily by scientists in China. The ban is effective April 4 and applies to institutions in China, Hong Kong, Macau, Russia, Iran, North Korea, Cuba and Venezuela
\nhttps:\/\/www.fiercebiotech.com\/research\/nih-bans-researchers-china-russia-and-other-countries-multiple-databases<\/a><\/p>\n

11.04.2025<\/h3>\n

? Shinhan Bank<\/b> (South Korea, Finance and payments) Status by KSE – stay<\/i>
\nShinhan Bank will provide consultation services in English, Vietnamese, and Russian at the Foreign Language Customer Consultation Center on weekends to enhance the convenience of foreign customers
\nhttps:\/\/www.mk.co.kr\/en\/economy\/11288763
\n<\/a>? Citi (Citigroup)<\/b> (USA, Finance and payments) Status by KSE – leave<\/i>
\nCiti clients in Russia receiving some frozen funds, Russian lawyers say
\nhttps:\/\/www.tradingview.com\/news\/reuters.com,2025:newsml_L5N3QP0ID:0-citi-clients-in-russia-receiving-some-frozen-funds-russian-lawyers-say\/<\/a><\/p>\n

12.04.2025<\/h3>\n

? Maharashtra State Power Generation Co Ltd (MAHAGENCO)<\/b> (India, Energy, oil and gas) Status by KSE – stay<\/i>
\nMaharashtra signs MoU with Russia’s ROSATOM to develop thorium-based small modular reactor
\nhttps:\/\/www.thehindubusinessline.com\/news\/national\/maharashtra-signs-mou-with-russias-rosatom-to-develop-thorium-based-small-modular-reactor\/article69442281.ece
\n<\/a>https:\/\/economictimes.indiatimes.com\/industry\/energy\/power\/maharashtra-signs-mou-with-russias-rosatom-to-develop-thorium-based-small-modular-reactor\/articleshow\/120208725.cms?from=mdr<\/a><\/p>\n

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13.04.2025<\/h3>\n

? Coca-Cola<\/b> (USA, Food & Beverages) Status by KSE – stay<\/i>
\n? Mercedes-Benz<\/b> (Germany, Automotive) Status by KSE – exited<\/i>
\nPutin’s “Godfather” Starts Delivering Mercedes and Coca-Cola from China
\nhttps:\/\/www.moscowtimes.ru\/2025\/04\/11\/kuma-putina-obvinili-v-postavke-gruzovikov-mercedes-i-coca-cola-iz-kitaya-a160806<\/a><\/p>\n

14.04.2025<\/h3>\n

? Engie<\/b> (France, Energy, oil and gas) Status by KSE – stay<\/i>
\n? Total Energies<\/b> (France, Energy, oil and gas) Status by KSE – exited<\/i>
\nBack to Russian gas? Trump-wary EU has energy security dilemma
\nhttps:\/\/www.reuters.com\/business\/energy\/back-russian-gas-trump-wary-eu-has-energy-security-dilemma-2025-04-14\/?fbclid=IwY2xjawJpyM1leHRuA2FlbQIxMAABHuuMVKcGx_8THBuELijhM05DMYUcOLpyywmKImfSircGFzlknlX-P6S6z7wl_aem_9o2abGmkF4JXbvPfTOkyUw
\n<\/a>? World Press Photo<\/b> (Netherlands, Events, Education) Status by KSE – leave<\/i>
\nThe organisers of the international photography competition World Press Photo have withdrawn an invitation to TASS photojournalist Mikhail Tereshchenko to the awards ceremony, which is scheduled to take place in Amsterdam in May.
\nhttps:\/\/tass.ru\/politika\/23669093
\n<\/a>https:\/\/tass.ru\/obschestvo\/23667471
\n<\/a>? L’Oreal<\/b> (France, FMCG) Status by KSE – stay<\/i>
\nFrench retailer rents new office in AFI Gallery
\nhttps:\/\/www.kommersant.ru\/doc\/7655905<\/a><\/p>\n

15.04.2025<\/h3>\n

? AGGREKO UK<\/b> (Great Britain, Energy, oil and gas) Status by KSE – leave<\/i>
\nAggreko is to sell its Eurasian power rental businesses to an unnamed third party for US$29 million, comprising $21 million for the Russian operation and $8 million for the Kazakhstan business.
\nhttps:\/\/www.internationalrentalnews.com\/news\/aggreko-finds-buyer-for-russian-business\/8055543.article?zephr_sso_ott=sBe9pU
\n<\/a>? KIA Motors<\/b> (South Korea, Automotive) Status by KSE – leave<\/i>
\nKia may be the first global car company to return to Russia. The Korean concern has included Russia in its updated sales plan
\nhttps:\/\/www.yna.co.kr\/view\/AKR20250412049100003
\n<\/a>https:\/\/www.moscowtimes.ru\/2025\/04\/15\/kia-pervoi-iz-globalnih-avtokontsernov-mozhet-vernutsya-v-rossiyu-uzhe-v-etom-godu-a160999
\n<\/a>? Silgan Holdings<\/b> (USA, Manufacturing) Status by KSE – leave<\/i>
\nThe Russian assets of a major Austrian-American manufacturer of metal food packaging Silgan Holdings, which were transferred to the Federal Property Management Agency in the summer of 2024, ended up under the control of a company owned by the Republic of Adygea.
\nhttps:\/\/www.interfax.ru\/business\/1020798
\n<\/a>https:\/\/www.moscowtimes.ru\/2025\/04\/14\/rossiiskie-zavodi-amerikano-avstriiskogo-proizvoditelya-metallicheskih-upakovok-peredali-gosudarstvu-a160962
\n<\/a>? Danone<\/b> (France, FMCG) Status by KSE – exited<\/i>
\nDanone has completely lost control over its former business in Russia and will not be able to return to the market. At the same time, the new company, Health & Nutrition, created on the basis of former Danone assets, has successfully adapted to work
\nhttps:\/\/www.kommersant.ru\/doc\/7657378<\/a><\/p>\n

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16.04.2025<\/h3>\n

? Robert Bosch<\/b> (Germany, Electronics) Status by KSE – exited<\/i>
\nGazprom subsidiary JSC Gazprom Household Systems is preparing to restart Bosch plants in St. Petersburg and start producing refrigerators and washing machines there as early as 2025.
\nhttps:\/\/www.kommersant.ru\/doc\/7658256<\/a><\/p>\n

17.04.2025<\/h3>\n

? Conviasa<\/b> (Venezuela, Air transportation) Status by KSE – leave<\/i>
\nVenezuelan airline Conviasa has announced the suspension of its flight operations between Russia and Cuba, with the final service scheduled from Moscow to Caracas via Havana set for April 28.
\nhttps:\/\/www.aviacionline.com\/conviasa-suspends-flights-between-russia-and-cuba
\n<\/a>? Hyundai<\/b> (South Korea, Automotive) Status by KSE – leave<\/i>
\n? KIA Motors<\/b> (South Korea, Automotive) Status by KSE – leave<\/i>
\nHyundai Motor Group Strategically Withdraws from Russia; Kia Re-Entry Rumors Proven False
\nhttps:\/\/www.businesskorea.co.kr\/news\/articleView.html?idxno=240044
\n<\/a>? Mondelez<\/b> (USA, Food & Beverages) Status by KSE – stay<\/i>
\nAFUO launches Easter boycott of Mondelez over its business ties with Russia
\nhttps:\/\/www.ukrainianworldcongress.org\/afuo-launches-easter-boycott-of-mondelez-over-its-business-ties-with-russia\/
\n<\/a>? UniCredit Bank<\/b> (Italy, Finance and payments) Status by KSE – stay<\/i>
\nItaly seeks UniCredit’s departure from Russia to clear BPM deal, source says
\nhttps:\/\/www.reuters.com\/business\/finance\/italy-seeks-unicredits-departure-russia-approve-bpm-deal-newspaper-says-2025-04-16\/
\n<\/a>? Reolink<\/b> (China, Electronics) Status by KSE – stay<\/i>
\nMore Questions Raised Over Chinese Security Company Reolink & Their Connections With Russia
\nhttps:\/\/www.channelnews.com.au\/exclusivemore-questions-raised-over-chinese-security-compaqny-reolink-there-connections-with-russia\/
\n<\/a>? Boeing<\/b> (USA, Aircraft industry) Status by KSE – leave<\/i>
\nRussia Asks to Buy Boeing Jets With Frozen Funds in US Talks
\nhttps:\/\/www.bloomberg.com\/news\/articles\/2025-04-16\/russia-seeks-to-buy-boeing-jets-with-frozen-assets-after-ukraine-ceasefire?srnd=homepage-europe
\n<\/a>? Universal Beverage<\/b> (USA, Food & Beverages) Status by KSE – leave<\/i>
\nAmerican-owned cannery enters Russian military food supply chain
\nhttps:\/\/english.nv.ua\/business\/kremlin-seizes-u-s-owned-food-firm-to-feed-russian-army-50507064.html<\/a><\/p>\n

18.04.2025<\/h3>\n

? Beijing Aviation And Aerospace Xianghui Technology Co. Ltd<\/b> (China, Defense) Status by KSE – stay<\/i>
\n? Zhongfu Shenying Carbon Fiber Xining Co. Ltd<\/b> (China, Defense) Status by KSE – stay<\/i>
\n? Wenzhou Ruijin Machinery Co., Ltd<\/b> (China, Defense) Status by KSE – stay<\/i>
\nZelensky imposes sanctions on three Chinese companies after announcement of military aid to Russia
\nhttps:\/\/forbes.ua\/news\/zelenskiy-vviv-sanktsii-proti-trokh-kitayskikh-kompaniy-18042025-29019
\n<\/a>? Uniqlo\/Fast Retailing<\/b> (Japan, Consumer goods and clothing) Status by KSE – leave<\/i>
\nRussian analogue of Uniqlo \u2014 Just Clothes will close all stores and leave the market
\nhttps:\/\/moskvichmag.ru\/gorod\/rossijskij-analog-uniqlo-just-clothes-zakroet-vse-magaziny-i-ujdet-s-rynka\/
\n<\/a>? T\u00fcpra\u015f<\/b> (Turkey, Energy, oil and gas) Status by KSE – stay<\/i>
\nTurkey’s largest oil refinery, Tupras, has turned to purchasing Russian Urals oil after having taken the fall through the strengthening of US sanctions against Moscow.
\nhttps:\/\/www.reuters.com\/markets\/commodities\/top-turkish-refiner-tupras-resumes-buying-russian-urals-crude-sources-say-2025-04-16\/
\n<\/a>? Raiffeisen<\/b> (Austria, Finance and payments) Status by KSE – stay<\/i>
\nAustrian banking group Raiffeisen Bank International (RBI) has denied reports that the sale of its Russian subsidiary has been suspended.
\nhttps:\/\/www.kommersant.ru\/doc\/7660502?tg
\n<\/a>? Wintershall Dea AG<\/b> (Germany, Energy, oil and gas) Status by KSE – exited<\/i>
\nThe Russian Prosecutor General’s Office has filed a lawsuit against Wintershall Dea
\nhttps:\/\/www.dw.com\/ru\/genprokuratura-rf-podala-isk-protiv-kompanii-wintershall-dea\/a-72270904
\n<\/a>? IKEA<\/b> (Sweden, Consumer goods and clothing) Status by KSE – exited<\/i>
\nRospatent has allowed IKEA to re-register its trademark in Russia
\nhttps:\/\/www.obozrevatel.com\/ekonomika-glavnaya\/economy\/ikea-vozvraschaetsya-v-rossiyu-chto-oznachaetsya-reshenie-o-registratsii-kompanii.htm#goog_rewarded
\n<\/a>? Robert Bosch<\/b> (Germany, Electronics) Status by KSE – exited<\/i>
\nBosch denies rumors of return to Russia, but Kremlin may use factories
\nhttps:\/\/24tv.ua\/business\/ru\/bosch-ne-vernetsja-v-rossiju-sluhi-o-vosstanovlenii-zavoda-oprovergli-biznes_n2801703
\n<\/a>? Raiffeisen<\/b> (Austria, Finance and payments) Status by KSE – stay<\/i>
\nRaiffeisen Bank International has halted attempts to sell its unit in Russia amid rapprochement between Washington and Moscow
\nhttps:\/\/www.ft.com\/content\/8b5c05b5-c6bf-4e11-9be1-e28f576b472a?accessToken=…&token=889ff587-2083-4308-8ec6-3efa095d9923<\/p>\n

19.04.2025<\/h3>\n

? Daewoong Pharmaceutical<\/b> (South Korea, Pharma, Healthcare) Status by KSE – stay<\/i>
\nDaewoong Pharmaceutical\u2019s Envlo Expands into Seven Latin American and Russian Markets
\nhttps:\/\/www.koreaittimes.com\/news\/articleView.html?idxno=140448
\n<\/a>? Mondelez<\/b> (USA, Food & Beverages) Status by KSE – stay<\/i>
\nCadbury warned by MPs and peers: Stop Russia sales
\nhttps:\/\/www.thisismoney.co.uk\/money\/markets\/article-14626145\/Cadbury-warned-MPs-peers-Stop-Russia-sales.html<\/a><\/p>\n

20.04.2025<\/h3>\n

? LPP<\/b> (Poland, Consumer goods and clothing) Status by KSE – stay<\/i>
\nSinsay owner faces fine for late disclosure of terms of withdrawal from Russia
\nhttps:\/\/euromaidanpress.com\/2025\/04\/19\/sinsay-owner-faces-fine-for-late-disclosure-of-terms-of-withdrawal-from-russia\/<\/a><\/p>\n

21.04.2025<\/h3>\n

? EKC.AG<\/b> (Germany, Metals and Mining) Status by KSE – stay<\/i>
\nA German company supplied chromium to Russia’s defense industry for a year
\nhttps:\/\/odessa-journal.com\/a-german-company-supplied-chromium-to-russias-defense-industry-for-a-year
\n<\/a>? Ghelamco<\/b> (Belgium, Construction & Architecture) Status by KSE – leave<\/i>
\nBelgium’s Ghelamco appears to have sold its only asset in Russia
\nhttps:\/\/www.vedomosti.ru\/realty\/articles\/2025\/04\/21\/1105536-belgiiskaya-ghelamco-prodala-aktiv-v-rossii<\/a><\/p>\n

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22.04.2025<\/h3>\n

? Reliance<\/b> (India, Energy, oil and gas) Status by KSE – stay<\/i>
\nReliance imported 17.3% more Russian oil in March as against Feb
\nhttps:\/\/m.economictimes.com\/industry\/energy\/oil-gas\/reliance-imported-17-3-more-russian-oil-in-march-vs-feb\/amp_articleshow\/120514051.cms<\/a><\/p>\n

23.04.2025<\/h3>\n

? Sinopec Limited (China Petroleum & Chemical Corporation)<\/b> (China, Chemical industry) Status by KSE – stay<\/i>
\nSinopec, a leading Asian refiner, resumed purchases of Russian oil after a brief pause in March to assess risks from sanctions imposed by the United States on Russian companies.
\nhttps:\/\/www.reuters.com\/business\/energy\/sinopec-resumes-russian-oil-purchase-after-short-pause-amid-sanctions-risks-2025-04-23\/
\n<\/a>? YouTube<\/b> (USA, Online Services) Status by KSE – leave<\/i>
\nAlmost 40% of Russians switched to VPN after blocking YouTube.
\nhttps:\/\/www.moscowtimes.ru\/2025\/04\/22\/pochti-40-rossiyan-pereshli-na-vpn-posle-blokirovki-youtube-a161703<\/a><\/p>\n

24.04.2025<\/h3>\n

? SEFE Securing Energy for Europe<\/b> (Germany, Energy, oil and gas) Status by KSE – stay<\/i>
\nA German company continues gas deals with Siberia despite growing sanctions risks.
\nhttps:\/\/www.spiegel.de\/wissenschaft\/sefe-warum-macht-eine-deutsche-firma-gasgeschaefte-mit-russland-a-a17f23dd-f5ae-4db1-a79d-b0b22309f0bf
\n<\/a>? Goldman Sachs<\/b> (USA, Finance and payments) Status by KSE – leave<\/i>
\nBalchug Capital reported that it had closed a deal to acquire the Russian subsidiary of the American bank Goldman Sachs.
\nhttps:\/\/www.rbc.ru\/business\/24\/04\/2025\/6809e6479a7947e5ef4e5a62<\/a><\/p>\n

25.04.2025<\/h3>\n

? McDonald’s<\/b> (USA, Public catering) Status by KSE – exited<\/i>
\nThe company filed an application for trademark re-registration in Russia as part of its global brand protection policy, even in markets where it does not operate.
\nhttps:\/\/ua.korrespondent.net\/business\/companies\/4776173-povernennia-v-rosiui-u-McDonalds-zrobyly-zaiavu
\n<\/a>? Glencore<\/b> (Switzerland, Agriculture) Status by KSE – exited<\/i>
\nSwiss trader Glencore has sold its stake in the Russian oil company RussNeft after over 20 years.
\nhttps:\/\/www.moscowtimes.ru\/2025\/04\/24\/odin-iz-krupneishih-sirevih-treiderov-mira-rasprodal-neftyanie-aktivi-v-rossii-a161925
\n<\/a>? Damen Group<\/b> (Netherlands, Defense) Status by KSE – stay<\/i>
\nThe Dutch Attorney General\u2019s Office will prosecute Damen Shipyards for alleged corruption and violation of sanctions against Russia.
\nhttps:\/\/www.volkskrant.nl\/economie\/om-vervolgt-scheepsbouwer-damen-wegens-corruptie-en-overtreden-sancties-tegen-rusland~b97eeb74\/?referrer=https%3A%2F%2Fwww.eurointegration.com.ua%2F<\/a><\/p>\n

26.04.2025<\/h3>\n

? Google<\/b> (USA, Online Services) Status by KSE – exited<\/i>
\nRussia fines Google for YouTube videos showing military casualties.
\nhttps:\/\/defence-blog.com\/russia-fines-google-over-youtube-videos-revealing-military-losses\/
\n<\/a>? Raiffeisen<\/b> (Austria, Finance and payments) Status by KSE – stay<\/i>
\nRaiffeisen Bank International AG lost its appeal against a court order to pay over \u20ac2 billion in damages to a company formerly owned by sanctioned billionaire Oleg Deripaska.
\nhttps:\/\/www.bloomberg.com\/news\/articles\/2025-04-24\/russia-rejects-raiffeisen-appeal-against-2-billion-court-order
\n<\/a>? NIS Serbia<\/b> (Serbia, Energy, oil and gas) Status by KSE – stay<\/i>
\nThe United States has postponed sanctions against Gazprom’s Serbian subsidiary NIS for the third time.
\nhttps:\/\/epravda.com.ua\/svit\/ssha-znovu-vidklali-sankciji-proti-dochki-gazpromu-u-serbiji-805940\/
\n<\/a>? UnionPay<\/b> (China, Finance and payments) Status by KSE – leave<\/i>
\nVTB CEO announced ongoing talks to bring UnionPay back to the Russian market.
\nhttps:\/\/www.interfax.ru\/business\/1022518<\/a><\/p>\n

28.04.2025<\/h3>\n

? McDonald’s<\/b> (USA, Public catering) Status by KSE – exited<\/i>
\n? Coca-Cola<\/b> (USA, Food & Beverages) Status by KSE – stay<\/i>
\n? Mastercard<\/b> (USA, Finance and payments) Status by KSE – leave<\/i>
\nMcDonald\u2019s and Coca-Cola stated they still see serious risks to operating in Russia, despite ownership changes and formal withdrawal.
\nhttps:\/\/www.bloomberg.com\/news\/articles\/2025-04-29\/mcdonald-s-coca-cola-still-see-risks-to-operating-in-russia?accessToken=<\/a>…<\/p>\n

29.04.2025<\/h3>\n

? AlMasria Universal Airlines<\/b> (Egypt, Air transportation) Status by KSE – stay<\/i>
\nAlMasria Universal Airlines is cutting nearly one-third of its flights from Russia to the Egyptian resorts of Sharm el-Sheikh and Hurghada starting May 20.
\nhttps:\/\/iz.ru\/1878566\/vladimir-gavrilov\/vot-hurgada-almasria-airlines-sokratila-poletnuyu-programmu-iz-rf-na-kurorty-egipta
\n<\/a>? Intel<\/b> (USA, IT) Status by KSE – leave<\/i>
\n? Microsoft<\/b> (USA, IT) Status by KSE – leave<\/i>
\nIntel and Microsoft have registered their trademarks in Russia despite formally suspending business in the country.
\nhttps:\/\/iz.ru\/1879082\/natalia-bashlykova\/sderzhivayut-marku-intel-i-microsoft-zaregistrirovali-torgovye-znaki-v-rossii
\n<\/a>? Wargaming<\/b> (Cyprus, Gaming) Status by KSE – exited<\/i>
\nThe Russian government has seized the assets of Lesta Studio, formerly owned by Wargaming until 2022.
\nhttps:\/\/www.pcgamesinsider.biz\/news\/75135\/russian-government-seizes-lesta-studio-assets\/
\n<\/a>? Fortum<\/b> (Finland, Energy, oil and gas) Status by KSE – exited<\/i>
\nFortum announced it has no plans to return to the Russian market.
\nhttps:\/\/www.oreanda-news.com\/en\/gosudarstvo\/fortum-has-no-plans-to-return-to-russia\/article1556238\/<\/a><\/p>\n

30.04.2025<\/h3>\n

? El Al<\/b> (Israel, Air transportation) Status by KSE – stay<\/i>
\nIsraeli national carrier El Al will resume direct flights to Russia on May 1, 2025, after a four-month suspension.
\nhttps:\/\/www.moscowtimes.ru\/2025\/04\/30\/izrail-reshil-vozobnovit-pryamoe-aviasoobschenie-srossiei-a162491<\/a><\/p>\n

Recently we made a lot of significant improvements in our <\/b>Telegram-bot<\/b><\/a> with improving the interface, adding overall statistics and reflecting on the latest KSE statuses of companies taken from the KSE public database.<\/b><\/p>\n

KSE team has incredible news about the project again! We are not standing still, and in addition to supporting and developing our database, which currently contains the world’s most comprehensive information on the activities of global corporations on the Russian market, we are also developing our technical products. We developed a barcode scanner, which is available at the link <\/b>https:\/\/leaverussia.kse.ua\/<\/b><\/a> (only for mobile devices!) or in our Telegram bot <\/b>https:\/\/t.me\/exit_ru_bot<\/b><\/a>! To use the scanner, you need to have a mobile phone, scan the barcode of the product in the store (or anywhere else) with a camera, and you will see information about its manufacturer and whether it also operates in Russia.<\/b><\/p>\n

Also, thanks to the use of ChatGPT, for most companies in the consumer sector, we have created the most complete list of 7500+ major brands and trademarks, so the search has become even more convenient and better. In addition, the scanner can be saved as a regular app on the smartphone home screen and Eng\/Ukr versions are available.<\/b><\/p>\n

 <\/p>\n

In July 2023, the KSE Institute, jointly with the B4Ukraine coalition partners published a new research entitled \u201cThe Business of Staying: a closer look at multinational revenues and taxes in Russia in 2022\u201d, you can download its full text in English using the following links: <\/b>https:\/\/kse-ua-prod-media.fra1.digitaloceanspaces.com\/wp-content\/uploads\/2023\/07\/08120814\/the-business-of-staying-1.pdf<\/b><\/a> and <\/b>https:\/\/b4ukraine.org\/pdf\/BusinessOfStaying.pdf<\/b><\/a>\u00a0<\/b><\/p>\n

In September 2023, the KSE Institute jointly with the B4Ukraine coalition partners published another research entitled \u201cThe Business of Leaving: How Multinationals Can Responsibly Exit Russia\u201d, you can download its full text in English here: <\/b>https:\/\/b4ukraine.org\/pdf\/B4Ukraine_Business_of_Leaving_report.pdf<\/b><\/a>\u00a0<\/b><\/p>\n

At the end of November 2023, the KSE Institute published a new study entitled “<\/b>Analysis of foreign business exits from Russia<\/i><\/b><\/a>“, which analyzed and systematized the results of 300 exits of foreign companies from the Russian Federation. This paper includes detailed analysis of the largest deals, main buyers\/beneficiaries, continuation of trade relations after sales and many other interesting insights. You can download the full text of the study in English here:<\/b><\/p>\n

https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4648135<\/b><\/a>\u00a0<\/b><\/p>\n

Also, at the end of February 2024, the KSE Institute jointly with the B4Ukraine coalition partners published the report entitled \u201c<\/b>2024 Is the Year to Defund Russia\u2019s War – The West Holds the Key<\/b><\/a>\u201d where, among other things, we estimated that the amount of taxes paid by foreign companies operating in Russia in 2022-2023 may amount to $20 billion annually. You can download its full text in English here: <\/b>https:\/\/b4ukraine.org\/pdf\/b4u_report_2024.pdf<\/b><\/a><\/p>\n

In January 2024, KSE Institute with support of volunteers developed a new application for <\/b>Apple Store<\/b><\/a> in addition to our database, which currently contains the world\u2019s most comprehensive information on the activities of global corporations on the Russian market.<\/b><\/p>\n

Leave Russia App<\/b><\/a> allows you to find any international brand or foreign company that is operating and paying taxes in Russia. Additionally, you can find out such statistics (if a company has local entity\/ies in Russia): number of staff, revenue generated, amount of capital, assets etc. With our service, you can not only find such a company, but also check proof links with information about the company’s public statement or public news that can confirm this information. <\/b>Click to download Leave Russia from the App Store!<\/b><\/a><\/p>\n

In September 2024, the KSE Institute published the analytical note entitled \u201c<\/b>What are the financial results of foreign business in Russia in 2023, and have exit rates slowed down?<\/i><\/b><\/a>\u201d where, among other things, we estimated that over the two years since the full-scale invasion, Russia has lost USD 125 billion in revenue from Western companies, equivalent to about 5.6% of the country\u2019s GDP\u201c. You can download its full text in English here: <\/b>https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4961551<\/b><\/a>\u00a0<\/b><\/p>\n

In January 2025 the new research was published by the <\/b>B4Ukraine<\/b><\/a> coalition in collaboration with the Kyiv School of Economics and <\/b>Squeezing Putin<\/b><\/a> which reveals how foreign businesses, including many household names, continue to channel billions in taxes to the Russian state nearly three years into its war on Ukraine. The report named<\/b> \u201cCorporate Enablers of Russia\u2019s War in Ukraine: A Closer Look at Multinational Taxes and Revenue in Russia in 2023\u201d<\/i><\/b><\/a> calls on companies to make a swift responsible exit from the Russian market and urges the G7 and allied countries to establish standards for corporate behavior, promoting immediate exits from the Russian market.<\/b><\/p>\n

Also, at the end of February 2025, the KSE Institute published the study \u201c<\/b>Assessing foreign companies\u2019 direct losses in Russia: financial impact, market consequences, and strategic adjustments<\/i><\/b><\/a>\u201d where, among other things, we estimated that Foreign businesses\u2019 direct losses in Russia exceed $170 billion due to write-offs, seizures, unfair court rulings, and exit taxes. You can download its full text in English here: <\/b>https:\/\/kse-ua-prod-media.fra1.digitaloceanspaces.com\/wp-content\/uploads\/2025\/03\/08123114\/kse_assessing-foreign-companies-losses-in-russia.pdf<\/b><\/a>\u00a0<\/b>\u00a0<\/b>KSE’s Barcode Scanner (mobile devices only)<\/b><\/a><\/p>\n

KSE’s application in the Apple Store<\/b><\/a><\/p>\n

KSE Telegram bot on news monitoring<\/b><\/a> @exit_ru_bot<\/b><\/p>\n

Twitter of SelfSanctions project<\/b><\/a><\/p>\n

Leave-russia.org website<\/b><\/a><\/p>\n

BI analytics @ Leave-russia.org<\/b><\/a><\/p>\n

Company news @ Leave-russia.org<\/b><\/a><\/p>\n

Twitter of leave-russia.org website<\/b><\/a>\u00a0<\/p>\n

LinkedIn of leave-russia.org<\/b><\/a><\/p>\n

YouTube of leave-russia.org<\/b><\/a><\/p>\n

Support us on Patreon<\/b><\/a><\/p>\n

Get access to our API<\/b><\/a><\/p>\n

Feedback<\/i><\/b><\/a>\u00b9 – KSE status “leave\u201d – Companies that have published on the company’s official website (or their release has appeared in a foreign publication such as FT, NYT, etc.) that are completely shutting down in Russia or companies that have officially announced that they are temporarily reducing operations in Russia
\n– KSE status “wait” – Companies that have published on the company’s official website (or their release has appeared in a foreign publication such as FT, NYT, etc.) that they are reducing only part of their business operations by continuing to work on other operations or companies that have reported delaying future investment \/ development \/ marketing , while continuing their core business On February 24, 2024 KSE status \u201cwait\u201d was merged with status \u201cstay\u201d
\n– KSE status “stay” – Companies that ignore exit \/ downsizing requirements in Russia, as well as companies that have officially stated that they remain in Russia or news of their exit have not been found
\n– KSE status “exited” – Companies that sold its business\/assets or its part of the business to a local partner and leaved the market\u00b2 When we analyze # of local companies, # of staff and local financials (such as revenue, capital, assets, taxes paid) – KSE Institute uses data according to Russian Accounting Standards (or RAS) from the official EGRUL register<\/b><\/a>, all steps how we do it are explained in detail in the Methodology we published here<\/b><\/a>. The key source for local financials is data from the Federal Tax Service of Russia. The latest available consolidated data for each group’s largest Russian units reported in line with local accou\u00b3 On 24 July 2022, we introduced the new status \u201cexited\u201d, which reflects the companies\u2019 actions to finalise the exit from the Russian market. The status relies on data from the Uniform State Register of Legal Entities in Russia (USRLE or EGRUL) and complementary analysis such as companies\u2019 announcements and media publications of company activities. At the same time, companies\u2019 activities can be hard to track and can be missed in the analysis, especially for companies less covered in the media. We encourage our readers to inform us if they are familiar with the companies\u2019 actions that contradict their announcements about the exit via the Feedback Form<\/i><\/a>\u00a0at<\/i> https:\/\/leave-russia.org\/<\/i><\/a>\u2074 It needs to be mentioned that open access to Russia\u2019s EGRUL register was partly classified recently, so KSE Institute could miss some of the exits but we found the new solution allowing us to get the proper access to the registers in the future.<\/b>\u2075 A “Company news<\/a>” section is available on the project site https:\/\/leave-russia.org\/<\/a>, follow daily updates directly on the website<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

We will continue to provide updated information on a quarterly basis. Prepared by the KSE Institute team and KSE members of the Board of Directors; 04.04.2025-05.05.2025 Disclaimer: At the beginning of the Russian invasion of Ukraine KSE Institute launched an analytical project, which was named \u201cSelfSanctions\u201d, aimed to collect data on foreign companies operating in\u2026<\/p>\n","protected":false},"featured_media":9381,"template":"","categories":[],"tags":[],"department":[],"news_type":[15],"project":[],"region":[],"unit":[38],"class_list":["post-14600","news","type-news","status-publish","has-post-thumbnail","hentry","news_type-news","unit-kse"],"acf":{"primary_unit":null,"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":"63681","content_owner":"kse","last_reviewed":null,"visibility":"public","platform_id":"","platform_version":"","platform_managed":false},"yoast_head":"\n76th issue of the regular digest on impact of foreign companies' exit on RF economy - 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\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"76th issue of the regular digest on impact of foreign companies' exit on RF economy\" \/>\n<meta property=\"og:description\" content=\"We will continue to provide updated information on a quarterly basis. Prepared by the KSE Institute team and KSE members of the Board of Directors; 04.04.2025-05.05.2025 Disclaimer: At the beginning of the Russian invasion of Ukraine KSE Institute launched an analytical project, which was named \u201cSelfSanctions\u201d, aimed to collect data on foreign companies operating in\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kse.ua\/en\/news\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"KSE\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/KyivSchoolOfEconomics\/\" \/>\n<meta property=\"article:modified_time\" content=\"2026-10-14T11:45:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kse-ua-prod-media.fra1.digitaloceanspaces.com\/wp-content\/uploads\/2025\/05\/08123303\/rf_06_05_2025_eng1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1812\" \/>\n\t<meta property=\"og:image:height\" content=\"472\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"32 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kse.ua\\\/en\\\/news\\\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\\\/\",\"url\":\"https:\\\/\\\/kse.ua\\\/en\\\/news\\\/76th-issue-of-the-regular-digest-on-impact-of-foreign-companies-exit-on-rf-economy\\\/\",\"name\":\"76th issue of the regular digest on impact of foreign companies' exit on RF economy - 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