2/18/25
US Companies Took $324 Billion Hit by Quitting Russia: Here's Who Lost Most
$123 billion in IT and media
$94 billion in the consumer goods sector
Source: Figures provided to Russian media by Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev.
Information compiled from publicly available reports and company statements over the past 2.5 years shows that:
Exxon suffered a $4 billion write-down on its Russia-related businesses.
McDonald’s recorded a $1.4 billion non-cash write-off in 2022 attributed to its Russia exit.
General Motors lost $657 million.
Google’s Russian subsidiary declared bankruptcy in 2023 with debts totaling $587 million. A Russian court has fined the company $2.5 undecillion rubles for restricting Russian media channels on YouTube.
31 October 2024, 11:34 GMT
Whirlpool recorded $400 million in Russia-related losses.
Coca-Cola lost $195.4 million.
Disney reported $195 million in losses from “depreciation of intangible assets” in Russia in 2022.
IBM recorded $300 million in losses in 2022, blaming Russia and inflation for 3,900 slashed jobs.
Starbucks suffered undisclosed losses after closing its 130 Russian coffee shops, accounting for nearly 1% of global sales.
Microsoft lost $126 million.
Ford took a $122 million hit.
Nvidia lost $100 million.
Apple recorded $79.3 million in losses.
Xerox faced $80 million in losses in Q4 2023.
Adobe reported $75 million from lost payments in Russia and Belarus.
Netflix cut off 700,000 Russian subscribers (about $55.1 million in potential losses, although some Russians switched their accounts to other regions).
John Deere halted production at a 100,000 sq. m facility it had pumped over $40 million into from 2005-2022. Caterpillar, which left in 2024, saw Russia earnings fall from $64.5 million in 2021 to $2.3 million in 2023 before liquidation.
Visa and MasterCard recorded $35 and $30 million in losses, respectively in 2022.
HP wrote off $23 million.
Cisco went $20.3 million into the red.
Oracle lost $13.7 million.
Western Union reported a 2% hit to 2022 revenues due to loss of the Russian and Belarusian markets.