Western companies have exited Russia in droves. New companies with owners from China and former Soviet republics are stepping in.

Photo: Russian President Vladimir Putin. Photo credit: Getty Images. Article by Huileng Tan. Business Insider – January 12, 2024.

• Nearly 10,000 companies with foreign involvement exited Russia in 2022 and the first 10 months of 2023.
• But the number of firms in Russia with co-owners from China and former Soviet republics has increased sharply.
• Russia is targeting new markets in the east following sweeping Western sanctions over the invasion. […]

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