Russia losing significant number of companies since Ukraine war launched

 Fortune:

In the six months since Russia invaded Ukraine, around 300 global companies have exited the Russian market, and another 700 have halted new investments and projects, or curbed operations in the country.

Western firms from the U.S. and Europe dominate the long list, which includes banks Citi and Goldman Sachs, apparel brands like Burberry and Adidas, and technology giants like IBM, Intel, Snap and Twitter, according to research from the Yale School of Management.

The large-scale corporate exodus, alongside tough western sanctions, has devastated the Russian economy—reversing decades of foreign investment and cooperation—despite the Kremlin’s continued petrodollar inflow and its insistence that Russia is faring just fine.

But not all global companies have retreated from the country. Around 47 of the world’s 200 biggest companies are still doing business in or with Russia. The process of leaving, after all, can come with major costs. Now, after concerning new moves from the Kremlin, experts say the companies that stayed are now at heightened risk of nationalization as Russia wrestles with how to best deal with the mass corporate exodus, and seeks greater control of their economy.
Unclean break

Political and reputational pressure pushed companies to exit Russia in a hurry after the Ukraine invasion.

But making a clean break with the country has proved to be costly and complex, and many companies that previously announced their intention to leave have continued to do business there as they evaluate how to get out without losing too much money.

French bank Société Générale became a cautionary tale when it took a $3.2 billion hit selling its stakes in Russian lender Rosbank and affiliated subsidiaries to Russian nickel billionaire Vladimir Potanin (who has since been sanctioned). It sold its Russian assets in a hurry—but to a government-linked businessman, as foreign buyers are few given the risks involved. As one senior banking executive told the Financial Times: “We’re all trying to find a clever way to exit the country. But what SocGen did isn’t the best way to do it. There is an ethical discussion… to consider when selling, or basically donating, to an oligarch.”
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Russia's war in Ukraine has been costly in troops and in commerce.  It has been a mostly fruitless invasion with more costs than benefits.  Putin is greatly weakening Russia in the process.