Hundreds of Western companies quickly exited Russia. Why didn’t Putin see that coming?
The rapid isolation of the Russian economy following the invasion of Ukraine marks the end of Russia’s 30-year experiment of integration into the global economy.
In the last three weeks, doing business in Russia became unseemly for most Western investment banks, former politicians and even fast-food restaurants. According to Jeffrey Sonnenfeld at the Yale School of Management, more than 400 companies have left Russia. But before the start of the full-scale war, a decade of Russian foreign aggression had not prevented most major energy firms, banks and pension funds from investing in Russian assets.
These rapid exits no doubt come as a great shock to Russian President Vladimir Putin and the Russian elite.… Seguir leyendo »