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Russian state media: $36 billion lost from exiting foreign investors in past year, claims impact 'minimal'

by The Kyiv Independent news desk May 29, 2023 4:25 PM 1 min read
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Foreign investors have withdrawn approximately $36 billion from the Russian market over the past year, Russian state-affiliated media RIA Novosti reported on May 29.

An analyst citing data from the Russian Central Bank said that companies departing from Russia carried out 200 asset sale transactions between March 2022 and 2023. Out of these transactions, 20 percent involved assets valued at over $100 million.

The Russian propaganda outlet then went on to claim that "the impact of foreign investors selling Russian assets on the domestic market is limited on a national scale" and that many companies "planned to return."

The aforementioned transactions also require "require the retention of necessary licenses and patents," RIA Novosti claimed.

The Russian government has attempted to complicate the withdrawal process for Western companies looking to exit the Russian market.

In late March, a new ruling indicated that Western companies wanting to leave and sell their assets in Russia are now forced to make a direct donation to the Russian state.

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