it has"gradually started to withdraw from its Russian assets while ensuring that it continues to supply gas to Europe."
Austria's Raiffeisen Bank almost quadrupled its net profit to 141 billion rubles, per Novaya Gazeta. However, the lender is trying to spin off its operations in Russia, according to aInsider could not independently verify the net profits.Like TotalEnergies, BP, and Raiffeisen Bank, many Western companies are still trying to leave Russia. But the break-up can be a long-drawn process.
More than a year after Russia invaded Ukraine, just 525 companies have made a clean break with the country,from Yale University. That's despite 1,000 companies announcing they were voluntarily cutting back on operations merely two months after the Ukraine war started. And it's not for lack of trying: More than 2,000 companies were seeking approval to exit the Russian market, theOthers who have varying degrees of active operations in Russia cannot simply pack up and go for a variety of business and non-business-related reasons, includingTotalEnergies, BP, and Raiffeisen Bank did not immediately respond to Insider's requests for comment sent outside regular business hours.