Most companies headquartered in the EU and G7 countries continue to operate in Russia. This conclusion was made by economists from Switzerland, said the University of St. Gallen.
Simon Evenett, a university professor, and his colleague Niccolò Pisani, a professor at the International Institute for Management Development from Lausanne, concluded that as of February 24, the date of Russia's invasion of Ukraine, there were 2,405 subsidiaries of 1,404 firms from the countries operating in the aggressor country. EU and G7. By the end of November 2022, “less than 9% of this pool of firms had abandoned at least one branch in Russia.” Economists note, among other things, that this extremely modest “refusal rate hardly changed during the fourth quarter of 2022.”
The scientists' findings "challenge the narrative that there is a broad exodus of Western firms" from the Russian market. According to researchers, more American companies left Russia than companies that came from the European Union and Japan. 18% of American firms, 15% of Japanese firms and less than 8.3% of EU member states left the Russian Federation. 19.5% of companies from Germany, 12.4% of American firms, 7% of Japanese firms remained in the country.