FX.co ★ Price of leaving: what losses did foreign companies suffer when they left the Russian market?

$1.5 billion

This is the amount British American Tobacco paid to depreciate Russian assets. This major global manufacturer of tobacco products decided to leave Russia in the first half of March. However, the anti-Russian sanctions have hurt the business of BAT itself. In the first 6 months of the year, the company's profits declined significantly. Its size decreased by 25% compared to the same period last year.

€1.4 billion

This is the cost of the losses of the German company Mercedes-Benz, which curtailed production in Russia. In addition to shutting down factories, the automaker also paused the export of its products to the Russian market. All these measures led to a very significant drop in the company's net profit both in the first half of the year (-16%) and in the second quarter of the year (-13.6%).

$1.2 billion

The world-famous chain of fast food restaurants McDonald's, headquartered in the United States, estimated its leaving the Russian market at more than $1 billion. It is worth recalling that the company closed some restaurants in Russia back in March, and in mid-May announced the sale of its business in the Russian Federation. All this led to the fact that in the second quarter of the year, McDonald's net profit decreased by almost 50%.

€202 million

This is the amount that the French company Michelin had to pay in the first half of the year for the suspension of activities in Russia. One of the world leaders in the car tire market curtailed production in the Russian Federation in March. This led to a drop in the company's net profit by 18%. And recently, Michelin announced that it was leaving the Russian market for good. At the end of June, it became known that the company was selling the business to its local top management.

$130 million

This is the price of the unwillingness to continue working on the Russian market of the Swedish company Ericsson, which produces telecommunications equipment. Its share in the Russian market was approximately 20%. After Ericsson's management decided in April to suspend all deliveries of its products to customers in the Russian Federation, its operating profit fell by 20.5%.

$126 million

Such an IT giant as Microsoft also could not avoid large losses. Due to the reduction of its presence in the Russian market, the operating expenses of this company amounted to $126 million. The decision to leave Russia was made by the American technology corporation in June. Its main costs are associated with the depreciation of Russian assets and the payment of severance pay to more than 400 employees.

$83 million

At the end of May, Shell, a major global oil concern, signed an agreement with the Russian LUKOIL on the sale of its business in the Russian Federation. The sale involved a chain of gas stations and a lubricants factory. This transaction resulted in a reduction of the company's net income in the second quarter of the year by more than $80 million.