Multinational corporations thrive in Russian market despite sanctions
Date
9/19/2023 8:47:04 AM
(MENAFN) Despite the sanctions imposed on Moscow by their home countries, multinational corporations originating from nations deemed "unfriendly" to Russia managed to generate substantial profits within the Russian market last year. This revelation, based on calculations by the Kiev School of Economics (KSE), was reported by the Financial Times on Monday. The KSE's computations drew from various sources, including the Russian firm register, news articles, and corporate disclosures.
The data from KSE underscores a striking trend, revealing that major Western firms, opting to maintain their presence in Russia, collectively accrued over USD18 billion in profits within the country last year. This impressive figure constitutes a significant portion of the total reported profits of USD20 billion generated by all foreign enterprises operating in Russia over the same period.
The findings from the KSE calculations highlight the resilience and adaptability of multinational corporations facing the challenges posed by international sanctions. Despite the geopolitical tensions and economic restrictions, these firms have managed to not only sustain their operations but also thrive within the Russian market. The extent of their profitability in this context is a testament to the complexities of the global business landscape and the interplay between politics and commerce.
In summary, the KSE's revelations shed light on the remarkable financial performance of multinational corporations from "unfriendly" countries in Russia, defying the constraints of international sanctions. Their ability to contribute substantially to the Russian economy emphasizes the intricate dynamics at play in the world of international business, where firms navigate complex geopolitical landscapes while pursuing their economic interests.
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