Russia Goodbye! Google, Decathlon and Xerox among 13 firms concluding Russian exits in October
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In October, thirteen international companies successfully concluded the process of withdrawing from the Russian market. This brings the number of businesses that fully left the Russian market to only 296.

The list of such corporate leavers includes the US technology giant Google (bankruptcy of the Russian subsidiary declared by the court), Cypriot IT distributor ASBIS, Danish brewer Carlsberg, French sports retailer Decathlon, Finnish electrical solutions manufacturer Ensto, Canadian agricultural firm Viterra, Dutch IKEA-owning company Ingka, French electrical products & solutions manufacturer Legrand, Swiss industrial engineering & manufacturing firm Sulzer, Dutch mobile operator VEON, American printing & photocopying giant Xerox Corp., and Finnish elevator engineering firm Kone Oy.

French car parts maker Valeo also said on Tuesday it had signed an agreement to sell its thermal systems production assets in Russia.

As of November 1st, 296 global firms have completely pulled out of Russia by selling or liquidating business, and 1,208 are in the process of leaving, according to the Kyiv School of Economics.

Instead, the majority or 58% of international companies with ties to Russia at the start of 2022 continue to do business within the aggressor state.

20 months after the full-scale invasion and almost ten years since the beginning of Russia’s aggression, this is far too little progress!

B4Ukraine calls on G7, EU, and Swiss governments to urge their businesses to cut ties with Russia and issue business advisories to warn of the heightened risks of continuing business operations in the aggressor state.

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