Foreign investors have withdrawn $36 billion from Russia.

A number of the world's largest corporations have left or scaled back their operations in Russia following the outbreak of the Russia-Ukraine conflict in February 2022.

A McDonald's restaurant is being dismantled in Russia. (Source: Reuters)

Citing data from the Central Bank of Russia , the Russian state news agency RIA reported on May 29 that foreign investors – who left Russia after selling off their businesses – withdrew approximately $36 billion from Russia between March 2022 and March 2023.

A number of the world's largest corporations have left or scaled back their operations in Russia following the outbreak of the Russia-Ukraine conflict in February 2022.

Last week, the Russian Central Bank downplayed the impact of the decline in foreign capital inflows, stating that around 200 asset sales had been completed between March 2022 and present, and that only 20% of these involved large transactions worth over $100 million.

Preliminary figures from the Russian Federal National Statistics Agency (Rosstat) show that the country's Gross Domestic Product (GDP) in the first quarter of 2023 decreased by 1.9% compared to the same period last year. Previously, Rosstat reported that Russia's GDP had decreased by 2.1% in 2022.

According to Rosstat, domestic consumer prices have risen 0.09% since the beginning of May and 2.15% since the beginning of the year.

Earlier this month, the Russian ruble's exchange rate against the US dollar rose to over 77 rubles per dollar, its highest level in more than a month, amid a recovery in oil prices.

The Russian currency benefited from high oil prices throughout April, contributing to increased revenue for Russian exporters.

Tra My (VNA/Vietnam+)

Source: https://baodaknong.vn/ria-cac-nha-dau-tu-nuoc-ngoai-da-rut-36-ty-usd-khoi-nga-150154.html