According to a paper by Evenett and Pisani, in April 2022, a total of 2,405 subsidiaries owned by 1,404 EU and G7 companies were active in Russia. By late November 2022 (nine months after the Russian invasion of Ukraine), only 8.5 percent of this pool of companies had divested at least one of their subsidiaries in Russia. While U.S. companies have divested more often than their EU and G7 counterparts, to date fewer than one in five (18 percent) have completed exits, according to the paper.

Last Updated on February 11, 2023 by Ramin Seddiq