Reuters: leaving Russia cost foreign companies $107 billion
The losses of foreign companies that were forced to leave Russia after the West imposed sanctions are estimated at $107 billion. Reuters reports this. According to the publication, Moscow requires a discount of at least 50% when selling foreign assets and is constantly tightening requirements for exit.
The publication notes that this year alone, assets owned by Shell, HSBC, Polymetal International, Yandex were sold for $10 billion. The discount was 90%. As an example, the situation with the French Danone, which received permission from Russian regulatory authorities to sell assets in the Russian Federation, is given. At the same time, the company's total loss from the sale of its capacities amounted to $1,3 billion.
It is noteworthy that Reuters’ forecasts regarding the further development of the situation with the sale of assets of Western companies in the Russian Federation are not optimistic.
As the special military operation in Ukraine continues amid weak Western assistance, companies still seeking to exit Russia are likely to face further difficulties and be forced to accept large write-downs and losses. The Russian head of state, freshly re-elected to a new term in a landslide victory... now has a renewed mandate to continue confronting the West
– Ian Massey, a representative of the consulting company S-RM, said in a comment to the agency.
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