Western companies that announced their withdrawal from Ukraine after Russia's full-scale invasion announced a total loss of $103 billion.
Source. This was reported by The New York Times, which analyzed financial reports.
In 2022, the Russian budget received at least $1.25 billion in taxes from the sale of businesses from "unfriendly" countries, the newspaper writes.
According to the NYT, Vladimir Putin has managed to turn the companies' exits into a benefit for the loyal elite and the entire state. This happened because he, among other things, forced companies leaving the market to sell assets in Russia at ridiculous prices, and also began to determine the circle of buyers of these assets.
As an example of a deal in which the state intervened, the NYT cites the attempts of the Dutch brewing company Heineken to sell its Russian assets. The publication, citing people close to the negotiations, claims that the Russian authorities refused to agree on a deal with the buyer of Heineken's assets and transferred them to Arnest Group, which produces Dichlorvos repellents, Krasota hair cosmetics, air fresheners, deodorants, and shoe polish.
11 days after the start of the invasion of Ukraine, Russia set up a subcommittee of the government commission for control over foreign investment, which issues permits for transactions between foreign companies and buyers of their Russian assets, the newspaper writes.
According to the NYT, citing internal protocols of the subcommittee, this agency scrutinizes even small transactions on the sale of property of companies from "unfriendly" countries.
Background. Earlier, it was reported that Heineken is selling its assets in Russia for 1 euro without a buyback option.