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Why pulling out of Russia is no easy feat for European businesses

Many foreign Companies continue to do business in Russia, despite the current political and economic conditions. In order to withdraw from Russia, these companies must sell their shares at a 50% discount and pay a 10% "voluntary exit tax" to the Russian budget. The first hurdle for companies trying to leave the country is the sale of their assets, which can be difficult to find a buyer for. The Russian state has also begun to manage companies that are considered important to the Russian economy, which has met with opposition from foreign investors.

The post Why pulling out of Russia is no easy feat for European Businesses appeared first on Balanced News Summary.



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