The departure of the largest international companies from the Russian market
In March 2022, Russia faced an unprecedented “exodus” of foreign business. Within one month, dozens of global brands announced their departure or suspension of operations: McDonald's, IKEA, Apple, Microsoft, H&M, Shell, Adidas, Visa, Mastercard and many others. The overall trend was explained by sanctions, danger to employees and political risks.
The closure of IKEA was especially noticeable - before leaving, the company held a huge online sale, which caused the collapse of the site and the instant disappearance of goods. The departure of McDonald's became symbolic - the brand had been present in Russia for more than 30 years. Later it was replaced by the Russian analogue “Tasty - that’s it.”
Economists noted that the departure of foreign businesses was a blow to many sectors: logistics, trade, IT, retail, catering. Not only goods disappeared, but also business standards, international management patterns, and technologies. Hundreds of thousands of employees across the country have lost their jobs or are in a state of uncertainty.
March was the month when the Russian economy finally entered the mode of “economic self-isolation”, breaking away from a huge part of the world market and placing business processes in new conditions.
30.03.2022