JRL NEWSWATCH: “Global Companies Are Finding It Hard to Leave Russia” – WSJ
“Tangled in sanctions and Russian bureaucracy, or just looking for a buyer, many companies who promised quick exits remain in the country.”
“Moscow’s invasion of Ukraine triggered a wave of promises by global businesses to exit Russia. A year later, many of those companies are still there. … Even after finding a buyer, some companies say they are struggling to close deals, in part because of sanctions. … More than 1,000 multinational companies [reportedly] have left or substantially curtailed operations in Russia …. Many companies with assets still in Russia have condemned Moscow’s invasion and some are channeling the proceeds from these businesses to humanitarian organizations operating in Ukraine. … Many goods and services aren’t sanctioned, such as humanitarian goods including medicine and basic foods. …”