Western firms take $110 billion hit from Russia sanctions – FT ...News

Energy and utility groups account for more than half of the lost earnings, the paper’s analysis shows Major European companies have incurred at least €100 billion ($110 billion) in direct losses from their Russia operations as a result of Western sanctions, the Financial Times reported on Sunday.  The newspaper’s survey of 600 European groups’ annual reports and 2023 financial statements showed that 176 firms recorded asset impairments, foreign exchange-related charges, and other one-off expenses as a result of the sale, closure or reduction of Russia-based businesses. The aggregate figure does not include indirec

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