According to a report published on Monday by the state-run RIA news agency, which cited an examination of data provided by the Central Bank, around $36 billion was taken out of the country by foreign investors who exited Russia after selling their firms there between March 2022 and March 2023.
As a direct reaction to Moscow’s invasion of Ukraine in February 2022, many of the largest firms in the globe have either completely exited the Russian market or significantly reduced their presence there.
After selling Russian enterprises, foreign investors withdrew $36bn
The central bank downplayed the effect of departures by foreign companies in its statement last week, noting that around 200 sale transactions had been finalized during the March 2022-23 period, with just 20% including big asset sales, which were defined as sales of assets worth more than $100 million.
Moscow’s operations in Ukraine are being described as a special military operation by Kyiv and its Western partners, while Moscow’s actions are being described as an act of unprovoked aggression to capture land by Kyiv.