Most Western organizations that have announced their exit from the Russian market continue to work in Russia, writes The Washington Post, citing research.
Thus, according to the calculations of experts from the University of St. Gallen in Switzerland, only 9% of Western companies completely left Russia. The Kiev School of Economics, which monitors the status of about 3,000 foreign organizations in Russia, has calculated that 211 companies have left the Russian market. Another 468 of the total announced plans to leave, but took no real action to do so.
Project director Andrei Onoprienko said that many companies that announced their withdrawal “did nothing or continue to wait.” At the same time, he added that after a year since the beginning of the conflict in Ukraine, organizations are losing the opportunity to sell their business, and suggested that this trend will continue until the assets are nationalized “or bought at a very low price.”
As an example, WP cites the Coca-Cola company, which in March 2022 announced the suspension of its business in Russia, and in August stopped the production of drinks in the country. However, Coca-Cola’s Russian subsidiary operates ten factories that produce a similar carbonated drink under the Dobry brand (it is produced by Multon Partners’ Russian factories, which belonged to the bottler of the original drink, Coca-Cola HBC Russia) and supports other profitable brands such as Rich and My Family. According to Onoprienko, such companies “hide the real situation.”
Recall that after the start of the special military operation of the Russian Federation in Ukraine in February 2022, many foreign companies announced the suspension of their activities in Russia or the termination of work in the country. Parent organizations began to sell subsidiaries to local businessmen. After that, shops, catering restaurants and stores of famous brands of clothing changed the names and elements of the brand.
Source: Rosbalt
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