MOSCOW: Western companies that announced their withdrawal from Russia following the start of Russia’s special military operation in Ukraine in 2022, suffered losses of more than US$103 billion, reported Sputnik quoting The New York Times on Sunday.
The report noted that Russian President Vladimir Putin was able to benefit from the departure of companies, including by dictating conditions for them to withdraw their businesses from Russia.
In addition, the report said that while Ukraine was preoccupied with short-term imperatives, such as strengthening international support, the stability of the Russian economy allowed Moscow to play a long game.
After the start of Russia’s military operation in Ukraine on February 24, 2022, Western countries significantly expanded their list of sanctions against Moscow. The European Union, in particular, has already adopted 11 sanctions packages. – BERNAMA-SPUTNIK
