Companies count cost of quitting Russia

Just seven multinationals are responsible for more than 144,000 Russian jobs, an analysis found

McDonald’s says the closure of its 847 restaurants in Russia would cost it about $50m (€46.2m) a month.

In what is being called the Great Business Retreat, over 400 foreign companies are divesting or suspending operations in Russia in response to crippling Western sanctions over president Vladimir Putin’s ongoing invasion of Ukraine.

Moscow mayor Sergei Sobyanin has warned that “about 200,000 employees are at risk of losing their jobs”. An analysis by the Financial Times calculates that just seven multinationals are responsible for more than 144,000 Russian jobs. The losses and write-downs of leaving Russia could cost them some $13.5bn (€12.48bn).