The University of St. Gallen and the IMD business school in Lausanne, Switzerland according to his research only 8.5 percent of companies in the EU and G7 countries left Russia.
Before the war, more than 2,400 corporate branches and 1,400 EU and G7 companies operated in Russia. By the end of November last year, only 120 companies left Russia or sold their companies there.
The research indicates that reports of mass withdrawal of Western companies from Russia are greatly exaggerated. According to Belgian daily Het Laatste Nieuws, businesses have actually resisted calls from governments, the media and some civilians.
Companies remain skeptical and reluctant to leave Russia for fear of losing a substantial portion of their business.
Those who had already left ended up handing over their assets to Russian hands, even for a token ruble or euro, like Renault and Nissan.
According to Forbes, the biggest beneficiary of the sales was oligarch Vladimir Potanin, whose company Interros bought Rosbank from Societe Generale, earning nearly 50 billion rubles (667 million euros).
The second highest earner was Vladyslav Sviblov, who bought the assets of the Canadian company Kinross with his Highland Gold Mining company, earning almost 40 billion rubles.
Not far behind him is SPB’s Ivan Tiriskin, who bought 49.5 percent of the shares of HKF-Bank LLC, earning more than 35 billion rubles.
The fourth place on the list was the state research center FSUE NAMI, which took over plants owned by Renault and Nissan, acquiring assets worth just under 35 billion rubles.
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