About 2,000 companies want to leave the Russian Federation, and it takes 8 years to consider their applications

So far, about 2,000 foreign companies have submitted applications to exit the Russian market for approval by the regulator, but it will take at least 8 years just to review the applications.

This is stated in the KSE Institute’s monitoring within the framework of the “Self-sanctions” project.

Recently, every Western company that wants to exit the Russian market and sell its assets, obliged make a direct contribution to the budget of the aggressor state. Until March, companies leaving Russia could choose between a “voluntary contribution” to Russia’s budget, which amounted to 10% of the sale price, or agree to defer payment from the sale for several years.

Currently, approximately 2,000 applications for exit from the Russian market are awaiting approval, but it will take at least 8 years just to consider them all, analysts have calculated.

According to monitoring data, 213 international companies (6.7% of the total number) have already completely left the Russian market. They provided at least 331,500 jobs, and the annual income was 47.6 billion dollars. In 2021, they paid $3.3 billion in taxes to the Russian budget.

Also, only 15.7% of foreign companies that had opened local companies and received revenue in Russia completely closed down their activities and finally left the Russian market. Another 28% are waiting, and 23.8% of companies with foreign investments continue to work in the aggressor’s market without restrictions.

Another 32.5% announced plans to close down their activities and leave the Russian Federation in the near future.