Financial Times: European companies suffer 100 billion euro hit due to Russia's military operations in Ukraine

Gulf Times ^ | 8/7/23 | Gulf Times

[hardspunned]

Europes biggest companies suffered at least 100 billion euro in direct losses from their operations in Russia since the beginning of the Russian military operations in Ukraine last year.An analysis by the Financial Times said that a survey of 600 European groups annual reports and 2023 financial statements shows that 176 companies have recorded asset impairments, foreign exchange-related charges and other one-off expenses as a result of the sale, closure or reduction of Russian businesses, adding that this aggregate figure does not include the wars indirect macroeconomic impacts such as higher energy and commodities costs.

[hardspunned]

Those sanctions have been incredibly effective in the West. 100 billion euros is but a small part of the total paid by consumers in the West for this Uke proxy war.

[icclearly]

100 billion euros is but a small part of the total paid by consumers in the West for this Uke proxy war.

Note this important quote from the article...

"...this aggregate figure does not include the wars indirect macroeconomic impacts such as higher energy and commodities costs."

Add these missing cost plus the billions squandered in direct payments to Zelensky in funds and equipment and the number will exceed a trillion in loses -- which are taken from the citizens.

You don't want to see the calculations for those of us in the US.

What a disaster!

We've lost our collective minds!

[blitz128]

True, but therein helps give lie to the idea that Russia was under attack and needed to take Ukraine to “protect” themselves
All these western business working in Russia were really there to undermine Russia?

Seems like a good plan/s

Shouldn’t be too hard for Russia to replace these companies as long as they don’t need men 18-60 to work there, apparently they will occupied elsewhere

[wildcard_redneck]

This war isn’t going to well for you is it Blitz?

[Worldtraveler once upon a time]

--- "...higher energy and commodities costs."

Who could have foreseen this! Who could have foreseen this! Who could have foreseen this!

But European enthusiast Anthony Blinken called it an "opportunity" for American business, and lest we forget, everybody's favorite, Victoria Nuland, said "F*ck Europe." On video, in case any doubt this feat of enlightened diplomacy.

One could also recall that anyone who said the sanctions might result in "higher energy and commodities costs" for Europe was called names because that's what suffices today for discussion and dialogue.

"F*ck Europe."

[BobL]

Note that most of the $100B was essentially transferred to Russia, as the Russians took over operations such as McDonald’s and Starbucks (and many others), and yes, their quality is unchanged as they kept the same workers and they always sourced most of their supplies locally (90% locally, in the case of McDonald’s).

...so guess where the profits from these businesses go - not to Europe anymore!

[hardspunned]

It’s still being whitewashed as Western victories.