Working paper

Assessing Foreign Companies' Direct Losses in Russia: Financial Impact, Market Consequences, and Strategic Adjustments

Year:

2025

Published in:

KSE Institute
Direct Losses in Russia
Losses of foreign bisuness in Russia
direct losses
exit from Russia
write-offs
business seizures
exit taxes
asset seizures
nationalization
financial losses
unstable markets

- Since 2022, foreign companies have suffered over $167 billion in direct losses due to their exit from Russia, including write-offs, unfair court decisions, and business seizures. - About 50% of all write-offs occurred in 2022, ~38% in 2023, 5% in 2024 and 7% in 2025. - Total losses for 30 companies whose assets were seized: More than $57 billion, with their Russian assets valued at ~$74 billion. - Additional "exit taxes" imposed by Russia have resulted in further financial burdens, with foreign companies paying at least RUB 250 billion (~$2.7 billion) between 2023 and mid-2024. - Key industries impacted include energy, automotive, finance, and consumer goods. - Russian countermeasures such as forced nationalization, asset seizures, and sales restrictions have intensified financial losses. - The long-term impact includes shifts in corporate geopolitical strategies and a reevaluation of risk exposure in unstable markets.

Other publications by

8 publications found

2022
Working paper

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Publisher: CEPR Press

Authors: Tymofiy Mylovanov, Jacob Nell, Olena Bilan, Torbjörn Becker, Yuriy Gorodnichenko, Nataliia Shapoval

2023
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How To Identify Foreign Business In Russia And What Are The Key Issues Of Creating And Keeping A Full List Of The Largest Foreign Companies In Russia

Publisher: SSRN

Authors: Tymofiy Mylovanov, Nataliia Shapoval, Andrii Onopriienko, Oleksii Hrybanovskyi

2023
Working paper

The Russian Business Retreat - How The Ratings Measured Up One Year Later

Publisher: SSRN

Authors: Tymofiy Mylovanov, Jeffrey Sonnenfeld, Nataliia Shapoval, Steven Tian, Andrii Onopriienko, Georgia Hirsty, Michal Wyrebkowski

2022
Book Chapter

Chapter 3 Higher Education Reforms In Ukraine During The COVID‑19 Pandemic

Publisher: Brill

Authors: Tymofii Brik, Iryna Kogut, Nataliia Shapoval

2024
Journal article

The Political Economy Of Public Procurement In Ukraine

Publisher: Journal of Public Finance and Public Choice

Authors: Tymofiy Mylovanov, Jennifer Brick Murtazashvili, Nataliia Shapoval, Ilia Murtazashvili

2025
Working paper

Enduring Dominance of Elderly Male Leaders in Global Governance: Implications and Pathways to Diversification

Publisher: KSE Institute

Authors: Andrii Onopriienko

2022
Journal article

Government By Code? Blockchain Applications To Public Sector Governance

Publisher: Frontiers

Authors: Tymofiy Mylovanov, Pedro Bustamante, Meina Cai, Marcela Gomez, Colin Harris, Prashant Krishnamurthy, Wilson Law, Michael J Madison, Ilia Murtazashvili, Jennifer Brick Murtazashvili, Nataliia Shapoval, Annette Vee, Martin Weiss

2022
Book Chapter

Anti‑Corruption Policies In The Reconstruction Of Ukraine

Publisher: CEPR Press

Authors: Tymofiy Mylovanov, Torbjörn Becker, Jonathan Lehne, Giancarlo Spagnolo, Nataliia Shapoval

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