The findings challenge the narrative that there is a vast exodus of Western firms leaving the market. Read more at straitstimes.com.
GENEVA - Despite widespread outrage over Moscow’s war in Ukraine, only a small number of Western companies have deserted Russia, according to a Swiss study.
The study, which was published last month by the online Social Science Research Network - a publisher of “pre-print” studies not subjected to scientific peer-review - showed that only less than 10 per cent of EU and G-7 companies with Russian subsidiaries had divested them. There were more confirmed exits by companies headquartered in the United States than those based in Europe and Japan.
Of those who have left their Russian subsidiaries in place, 19.5 per cent are German and 12.4 per cent are US-owned, according to the study.
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