On February 9, President Vladimir Putin that despite , “nothing has collapsed, and nothing is falling apart”:
That is misleading. In response to Moscow’s unprovoked invasion of Ukraine last February, Western governments imposed economic and diplomatic sanctions, and halted or suspended their .
Sanctions and the exodus of companies have had a cumulative impact on Russia’s gross domestic product (GDP). As of September 2022, Russia's annual GDP - the worst in the G-20, which brings together the world's 20 major economies.
McDonald's, the world's largest fast-food chain, closed and sold off its in May 2022. The following month, the new Russian owner opened a chain of 300 restaurants called Vkusno - i tochka ["Tasty – period"]. By September, the new chain had opened .
There were for the McDonald’s successor from the outset: signs with the letter M were removed from restaurants, but new ones were not displayed; the American brand’s logo on sauces was cheaply painted over with markers; the menu was shortened; French fries .
Russian media food quality at Vkusno - i tochka restaurants, with the Kommersant newspaper :
The customer complaints and social media posts halted abruptly after just a few days, with the new owners labeling the criticism a “provocation,” Kommersant reported.
In March 2022, Google, the world's largest seller of online ads by revenue, selling online ads in Russia. Earlier, Twitter and Snap Inc. did the same.
In May, Google it would completely stop working in Russia. By that time, most of Google's 240 employees in Russia had already .
Most Russian advertising agencies surveyed in November 2022 estimated the country’s advertising , mainly because of the and a reduction in advertising by Russian companies.
According to a survey by Ventra, a Russian human resources company, as of September 2022, left Russia or planned to relocate within the next year, while 19% of the respondents were employees of companies that left the Russian market.
The Whirlpool Corporation, an American manufacturer of home appliances, and one of the largest producers of in Russia, its two factories there in March 2022.
That same month, German multinational company Bosch — another major manufacturer of refrigerators and washing machines in Russia — in St. Petersburg. As of February 2023, the company off its Russian assets.
According to , refrigerator manufacturing in the country last year fell by 46.7%, while washing machine manufacturing fell by 68.1%.
Home have reportedly been the by the Russian troops from Ukraine since the beginning of Moscow’s full-scale invasion last February.
Most global automakers stopped building cars in - and delivering components to - Russia in March 2022. Some have suspended production in Russia indefinitely, while others have sold assets to the Russian government or private Russian investors.
According to Rosstat, compared with the previous year, with just 450,000 units built – . "There is an impact of new projects, but not very significant yet," the Interfax news agency quoted Russian automotive industry market analyst Vladimir Bespalov as saying.
Sales of new cars and light commercial vehicles in Russia , the Association of European Businesses (AEB) reported in January.
According to the Russian Automobile Dealers Association, remained available for purchase in Russia in 2022. The world's largest brands have and sales in Russia. Ford, Toyota, Nissan, Mazda, Volkswagen, Mercedes-Benz, Opel, Hyundai, Kia, Renault, Citroen and Peugeot.