Wednesday, March 22, 2023

Most companies continue to do business with Russia

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Extensive data shows that a large number of companies headquartered in the European Union (EU) and G7 countries continue to operate and invest in Russia.


Jean Claude RaemyEditor Economics

In response to the invasion of Ukraine in February 2022, the G7 and EU countries quickly imposed harsh sanctions on Russia. Governments, NGOs and many media built up pressure: companies should leave Russia and no longer do business there.

What is the situation one year after the beginning of the war in this regard? From the point of view of those in favor of sanctions: Sobering. A study by the University of St. Gallen shows that Western companies are only withdrawing from Russia to a very limited extent. Nine out of ten of the companies surveyed continue to do business with Russia.

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