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Western companies that have left Russia suffer huge losses — Bloomberg

Foreign companies that have left Russia are suffering huge losses, and the strengthening of the Russian ruble against the euro has become a real "headache" for Western banks, Bloomberg reports

Credit bank Societe Generale SA (France) confirmed that at the end of the second quarter its pre-tax losses due to withdrawal from Russia amounted to $3.3 billion. Other Western companies, which operated more slowly, received profit growth

Executive Director of Raiffeisen Bank (Austria) Johann Strobl said that for those who decided to liquidate their business in the Russian Federation, the strong Russian currency became a "headache", and companies that decided to quickly leave the Russian Federation after the start of the special operation in Ukraine suffered "serious losses". At the same time, Raiffeisen Bank named Russia as one of the sources of its high income
https://www.bloomberg.com/opin....ion/articles/2022-08
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