When Russia invaded Ukraine, global companies were quick to respond, some announcing they would get out of Russia immediately, others curtailing imports or new investment. More than a year later, it’s clear: Leaving Russia was not as simple as the first announcements might have made it seem. Many companies are simply staying put, sometimes citing responsibility to shareholders or employees or legal obligations to local franchisees or partners. She called the Russia business a deeply integrated part of Carlsberg. Companies are lost in “a Bermuda Triangle between EU sanctions, U.S. sanctions and Russia sanctions,” said Michael Harms, executive director of the German Eastern Business Association.

Source: The Star May 25, 2023 08:04 UTC