Companies are finding it's not so simple to leave Russia. Others are quietly staying put
When Russia invaded Ukraine, companies were quick to respond, some announcing they would get out of Russia immediately When Russia invaded Ukraine, global companies were quick to respond, some announcing they would get out of Russia immediately, others curtailing imports or new investment. Billions of dollars' worth of factories, energy holdings and power plants were written off or put up for sale, accompanied by fierce condemnation of the war and expressions of solidarity with Ukraine. More than a year later, it’s clear: Leaving Russia was not as simple as the first announcements might have made it seem. Increasingly, Russia has put hurdles in the way of companies that want out, requiring approval by a government commission and in some cases from President Vladimir Putin himself, while imposing painful discounts and taxes on sale prices. Though companies’ stories vary, a common theme is having to thread an obstacle course between Western sanctions and outraged public opinion on on...