Russian Presidential Advisor Anton Kobyakov stated that over 300 US companies are still operating in Russia and have no plans to exit the market. He made these remarks in an interview with TASS news agency on 4/9, on the sidelines of the Eastern Economic Forum (EEF).
"Over 300 US companies remain present in the Russian market, despite direct prohibitions from Washington or attempts to prevent them from doing so," he stated. According to Kobyakov, Western investors maintain contact with Russia, and some businesses continue to cooperate with Moscow.
"No one wants to leave. All understand the value of such communication channels and are aware of their business interests," he remarked. He also affirmed that the Russian government does not obstruct businesses choosing to remain in the country. They are treated equally as Russian companies and are considered entities operating the economy.
The Russia-Ukraine conflict, which erupted in 2/2022, triggered a subsequent wave of Western businesses leaving Russia. To date, over 1,000 foreign businesses have withdrawn operations or reduced their business scale in Russia, according to data from the Yale School of Management.
Some sold assets or transferred management to existing executives. Others, such as automaker Renault, fast-food chain McDonald’s, and adhesive manufacturer Henkel, signed agreements to depart but may later repurchase their assets in Russia.
Currently, many major US companies like Apple, Goldman Sachs, and MasterCard are no longer present. However, French retail giant Auchan and consumer goods giants Nestle and P&G continue to operate. A Reuters statistic from early 2024, based on company reports, indicated that foreign businesses lost over 107 billion USD by exiting this market.
By Ha Thu (Sources: TASS, Reuters)
