February 3, 2023

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Shame on a great European country. Most companies are still operating in Russia

69 percent of companies from Austria, which were present on the Russian market before the war, continue to operate there without any restrictions, the Ukrinform agency reported on Tuesday, citing the findings of the Kyiv School of Economics (KSE) report.

Kuwait Stock Exchange data shows that 160 companies with foreign capital have already completed the withdrawal process from the Russian Federation. Another 1,163 international companies announced the withdrawal and suspension of operations.

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However, approx 2/3 of the Austrian companies present on the Russian market before February 2022 intend to continue operating there without any restrictions The report states. As noted, in the year before the war, Austrian investments in the Russian Federation amounted to about 6 billion dollars, and Russian investments in Austria – 29 billion dollars.

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According to the Kuwait Stock Exchange, 69 percent. Of the 63 Austrian companies still operating in Russia, 14 percent are suspended operations, and another 14 percent. In the process of withdrawing from this market.

Only 3 percent of companies with Austrian capital have already completed the process of exiting the Russian market. This group included, among others, MM Packaging, which sold factories in Pskov and St. Petersburg, and Petro Welt Technologies, which provides services in the natural gas and oil extraction industries. Swarovski has suspended all sales in the Russian Federation. It is in the process of liquidating its operations in the local market.

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