The AEB pointed to a large number of Western companies remaining in Russia

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There are still many European companies in Russia, despite the fact that the media often reports on the departure of Western organizations from the country. On Monday, February 20, said “RIA News» Director General of the Association of European Businesses (AEB) Tadzio Schilling.

“I have spoken to many executives and managers, and I can tell you that there are hundreds of sad personal stories behind every exit, and each exit is not only an economic loss, but also a loss in terms of human relations, since close contacts between people for foreign business operating in Russia have always played an important role,” added Schilling.

Schilling noted that most foreign businesses continue to operate in sectors less affected by sanctions or other crisis-related issues. According to the head of the AEB, the association helps them in every possible way in the current conditions. At the same time, Schilling did not name the exact number of companies remaining in Russia, noting that the “actual number” does not matter.

Earlier, on February 8, the Institute for the Development of Entrepreneurship and Economics (IRPE) told Izvestia that only a minority of foreign brands in the consumer sector had left Russia. These are 46 names of goods of optional demand. 73 foreign brands remained to work in Russia, while 26 of them reduced their activities, another 128 brands have so far suspended their work in the Russian Federation.

In everyday millet products (food, household chemicals and hygiene, retail chains themselves) there is a similar situation. So, 37 brands are working, 16 of them have reduced their activities. Another 44 brands have slowed down, and only 37 have left the country.

As IRPE head Natalya Nazarova explained, many foreign brands have been on the Russian market for a long time and cannot leave the country overnight. Moreover, all transactions with foreigners from unfriendly countries go through a government commission.

Foreign companies have begun to suspend their activities in the Russian Federation or leave the Russian market amid the geopolitical situation and anti-Russian sanctions imposed.

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