Foreign Investors Withdrew $36 Billion from Russia in A Year

Foreign Investors Withdrew $36 Billion from Russia in A Year

Foreign investors withdrew about 36 billion US dollars from Russia by selling assets between March last year and the same month of this year, the RIA news agency announced, citing an analysis of data from the Russian Central Bank.

Several major Western companies have left or reduced operations in Russia after the West responded to Russia’s attack on Ukraine with extensive sanctions against Moscow.

On Friday, the Russian central bank stated in a report on the financial system’s stability that many foreign companies sold their operations in Russia and retained the right of return.

From March of last year to March of this year, the Russian central bank said that about 200 sales transactions were completed, and only one-fifth of them were sold assets worth more than 100 million dollars.

Only five transactions approved since October involved payments to non-residents of more than $400 million. According to them, these sales transactions affect the Russian economy only to a limited extent.

Gazprom’s Profit Fell by More than 40 Percent in 2022

Gazprom, the state-owned Russian natural gas company, has reported a profit decline of over 40% in 2022 and will not distribute dividends throughout the year.

This news decreased Gazprom’s shares by about four percent on the Moscow Stock Exchange.

In 2022, Gazprom, predominantly owned by the state, recorded an annual profit of 1.226 trillion rubles ($15.4 billion), showing a 41 percent decrease compared to the previous year.

The decline was due to a windfall imposed last year aimed at bolstering government funds, according to the company’s statement.

But Gazprom also lost most of its European customers during the conflict in Ukraine and has tried to boost its exports to China and other markets.