The American newspaper, The New York Times, has reported that foreign companies that decided to exit the Russian market following the start of the war have incurred financial losses exceeding $103 billion.
The newspaper explained that Russian President Vladimir Putin managed to turn the situation in his favor by transforming the expected failure into an enrichment plan.
According to The New York Times, the departure of foreign companies was supposed to strangle the Russian economy, but the Kremlin had “other plans,” turning the isolation of Western companies into a “windfall for the state,” meaning the Russian government.
Earlier, Putin himself discussed the results of the year 2023 in the Russian economy, emphasizing that those who believed that everything in the country would collapse had been greatly disappointed.
Today in Russia, a robust consumer world carries on, helping Putin maintain a sense of normalcy despite a war that has proved longer, deadlier, and costlier than he predicted.
Most foreign companies remain in Russia, unwilling to lose the billions they’ve invested there over decades.
Other businesses have been sold and now have a through-the-looking-glass feel. Krispy Kreme is now Krunchy Dream; its doughnuts come in a similar flat box with familiar flavors. Starbucks has been reborn as Stars Coffee. Its mermaid is now a Russian swan princess.
