Page 132 - RusRPTAug24
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      Lots of foreign firms still operate in Russia, reports BOFIT. Many foreign firms have departed at their own initiative from Russia since the start of the war, even if they were not actually compelled to do so by sanctions. The KSE database of nearly 4,000 firms shows that about half of their monitored firms continue to do business in Russia, some in a more limited manner than previously.
Companies based in countries that have not imposed sanctions on Russia have largely continued to operate as usual in Russia. For example, 90–95 % of Chinese, Indian and Turkish firms have chosen to stay in Russia. About half of firms from countries that have imposed sanctions continue to operate in Russia. Among EU countries, Greek, Italian and Austrian firms remain most active in the Russian market. For this group, 70–80 % of firms continued to conduct business in Russia after the invasion of Ukraine.
Finnish companies have been the most active in exiting the Russian market. Nearly all larger Finnish companies have ended their operations in Russia. A recent survey of export managers by the Finland Chamber of Commerce found that 76 % of the responding firms were doing business in Russia before the invasion of Ukraine in February 2022. Not a single respondent said they were still engaged in business in Russia in the survey results released in June (although two firms noted they were still in the process of winding down operations).
 132 RUSSIA Country Report August 2024 www.intellinews.com
 






























































































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