A large number of foreign investors are still doing business in Russia, despite the war it started in Ukraine and the Western sanctions imposed on it, the European Commission confirmed on Friday, according to the DPA agency, Agerpres cites.
Moscow, view to the financial center of the Russian capital (Moskva City)Photo: Vitaliy Belousov / Sputnik / Profimedia Images
“International trade and the presence of foreign businesses in Russia have decreased significantly. More than 40% of foreign investors have either decided to leave Russia or have already liquidated their businesses” in this country, states the European Commission in response to a question received from German MEP Moritz Körner, member of the liberal group Renew Europe.
The data on which the community executive based this answer are extracted from the statistics of the Yale Management School and the Ukrainian institute KSE.
“Any company that continues to make profits in Russia directly supports Putin’s war machine through the taxes it pays to the Russian state”, believes the liberal MEP, who wants the EU to tighten sanctions against Russia in such a way that no European company do business in this country.
A study published on Friday by the National Bank of Switzerland shows that the war in Ukraine together with the sanctions imposed on Russia as a result have reduced economic growth and fueled inflation in European states, especially in Germany, and the negative economic effects of the war will probably be more significant on medium and long term.
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