Public withdrawals of the companies may give the impression that Russia has been emptied of its French groups. It is not so. If Renault, Société Générale, Publicis, Schneider Electric, Atos or Sodexo left the country with great fanfare, many more companies stayed there. Some, such as Hermès, Safran, Michelin, Crédit Agricole or Decathlon, have stopped all their activities there, turning away while the storm lasts. Others continue their activities there in whole or in part. The image risk, however, is significant. Accused of indirectly supplying the Russian military, TotalEnergies, which it vehemently denies, paid the price last week. And the stock markets prefer the groups regulating the Russian adventure.
Companies that have decided to stay put forward three main arguments: the pursuit of activities considered essential for the Russian population, the desire not to hurt the future, and excessive costs…
Source: Le Figaro
