• About Us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI English
TFI हिन्दी
Wednesday, February 1, 2023
TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
TFIGlobal
No Result
View All Result

In just 10 months, repentant Western brands are back in Russia

Rohit Yadav by Rohit Yadav
December 1, 2022
in Geopolitics, Russia
Reading Time: 3 mins read
0
companies Russia

Source- worldoil.com

1.7k
VIEWS
Share on FacebookShare on Twitter

When the Ukraine war started, Western brands deserted Russia like there was no tomorrow. The move was portrayed by Western media as something which would wreak havoc on the Russian economy. Cut to now, Western brands are dying to get hold of the Russian market. They have suffered losses of billions of dollars for leaving the Russian market. And now, they don’t want to lose anymore.

McDonalds, Starbucks, Google, Microsoft, H&M, Nike, Zara and hundreds of other companies left Russia soon after the Ukraine war started. Western businesses started to reduce their investments, close storefronts and halt their Russian sales in response to investor and customer pressure. Western media reported it as a phenomenal jolt that’ll break the Russian economy and ultimately the Russians. Analysts assumed that Russians will take up arms against Putin and take to the streets to express their anger but nothing of that sort happened.

Also Read

Desperate to save its face, US sanctions Wagner as a warning

Turkey begins digging the grave of NATO

What they didn’t report is how the western companies incurred huge losses after they lost the market of Russia. As the businesses endure the burden of the recession that has hit the West, Western firms are increasingly voicing their discontent. And why not, a collective loss of $300 billion can even make billionaires cry.

According to RBC Daily, losses resulting from foreign businesses ceasing operations in Russia or leaving entirely are between $200 and $240 billion since the end of February 2022. According to the report, international companies engaged in the oil and gas, finance, automobile, and food industries all incurred significant losses. Though, not all businesses were ignorant to abandon the Russian market and customers. About 47 of the 200 largest corporations in the world still conduct business in or with Russia.

Also Read: When it comes to sanctions, Poland has mastered the art of deceiving the European Union!

‘Repentant Western brands’ are back in Russia

The brands which left are now looking to re-enter Russia. And justifiably so. Why would someone want to lose on their billions of dollars? And why would they give a freeway to their competitors which stayed in Russia? According to a statement from Russia’s postal service, People of Russia will be able to purchase merchandise online starting on Tuesday from a number of well-known American and European companies, including Nike, Zara, and H&M.

Direct purchases of Western items using either international or Russian bank cards will be allowed through the firms’ websites. In the latter instance, Post Global, a Hong Kong-based corporation posing as a partner of Russian Post, has offered to directly purchase the goods for an additional price, defying Western sanctions on Russian banks.

These items will then be transported to Russia and delivered within a few weeks even to the most remote regions after being stored at a German or American warehouse run by Post Global. These range from products like cosmetics, Lego sets, and iPhones to auto parts, which are crucial to Russia’s auto sector. Customers of Russia couldn’t buy the western companies’ products due to the several rounds of financial and trade sanctions placed on their country by the Western bloc. But not anymore.

Clearly, the western companies aren’t ready to let go off the huge profitable market of Russia. They have now defied the financial sanctions imposed on Russia now because they want no more losses. And this is just the beginning. We’d be soon seeing them making their way back to Russia in no time. Well, it’s never too late to mend your mistakes until you are bankrupt.

Tags: BusinessRussiaRussian sanctions
ShareTweetSend
Previous Post

Africa Industrialization Day 2022: The dawn of the African century arrives

Next Post

In the next 3 years, Trudeau might lose power, but he is ensuring that his “Woke Legacy” continues

Also Read

China comes up with a bizarre idea to overcome demographic challenges

China comes up with a bizarre idea to overcome demographic challenges

February 1, 2023
The next Ukrainian government will run in exile

The next Ukrainian government will run in exile

February 1, 2023
Wagner Group US

Desperate to save its face, US sanctions Wagner as a warning

February 1, 2023
Malawi: From being the “Warm heart of Africa” to being a “Cold Debt Ridden Country”, what went wrong?

Malawi: From being the “Warm heart of Africa” to being a “Cold Debt Ridden Country”, what went wrong?

January 31, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
World Economic Forum

“Sex, sleaze, and drugs” is what WEF is all about

January 18, 2023
Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

May 9, 2022
France’s gift to Ukraine is actually a gift for Russia

France’s gift to Ukraine is actually a gift for Russia

January 28, 2023
Orwellian “Ministry of Truth” becomes a reality in Biden’s America

Orwellian “Ministry of Truth” becomes a reality in Biden’s America

April 28, 2022
Lavrov’s presence in Eritrea is very unsettling for…..

Lavrov’s presence in Eritrea is very unsettling for…..

January 29, 2023
China comes up with a bizarre idea to overcome demographic challenges

China comes up with a bizarre idea to overcome demographic challenges

February 1, 2023
Canada government

Freeland in trouble, as the government fails to keep up the $38 billion promise

February 1, 2023
The next Ukrainian government will run in exile

The next Ukrainian government will run in exile

February 1, 2023
US-Venezuela oil deal is a threat to Venezuela’s sovereignty

US-Venezuela oil deal is a threat to Venezuela’s sovereignty

February 1, 2023
Cholera

Cholera outbreak is set to worsen in the Dominican Republic

February 1, 2023
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2023 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

©2023 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.