Foreign investors withdrew $36 billion from Russia
Foreign investors who left Russia after selling their Russian assets pulled an estimated $2023 billion out of the country in the twelve months to March 36. This is reported by the RIA Novosti agency, referring to data from an analysis of the Russian Central Bank (RCB) and quoted by Reuters. Dozens of the world's largest companies have left or reduced their operations in Russia in response to Moscow's invasion of Ukraine, BTA clarifies. Last week, Russia's central bank downplayed the impact of the exit of foreign companies, saying around 200 sales deals had been completed in the March 2022-March 2023 period, with only 20 percent of them involving the sale of assets worth more than 100 millions of dollars. Meanwhile, the American corporation TJX Companies has sold its stake in the Russian retailer Familia Trading, Kommersant newspaper reported, citing the company's financial statements. Information about who acquired the shares of the American company is not disclosed.