Since the day Russian tanks rolled across the border into Ukraine, nations across the world have been going the extra mile to support the people of that resilient nation.
Whilst governments and politicians have imposed sanctions and cut diplomatic ties, the private sector has also responded to the ongoing situation mainly through the withdrawal of major global businesses from Russia. As a result, the Institute of International Finance estimated that the Russia’s economy will shrink 15% this year and 3% in 2023, wiping out fifteen years of economic gains.
Whether that will eventually have any effect on the current situation is anyone’s guess, but with over a thousand Western businesses having left, or are in the process of leaving, all sectors of the Russian economy have been hit hard by those large corporations ending their links with the country.
