Foreign companies that decided to leave the Russian market after the start of the SMO have suffered financial losses of more than $103bn, according to The New York Times.
The publication notes that Russian President Vladimir Putin was able to turn the situation in his favour by turning the expected failure “into a scheme to enrich himself”.
The withdrawal of foreign companies was expected to “strangle the Russian economy,” but the Kremlin “had other plans” and turned the boycott of Western companies into a “good fortune for the state,” the piece points out.
Earlier on the results of 2023 in the Russian economy spoke Putin himself. According to the head of state, those who thought that everything would collapse in the country are very disappointed.