One issue raised during today’s meeting in Riyadh was how much money American companies lost by having to leave the Russian market, due to sanctions. The total to date exceeds $300 billion. Biggest losers, according to Eurasia and Multipolarity:– Exxon suffered a $4 bln write down on its Russia-related businesses– McDonald’s recorded a $1.4 bln non-cash write off in 2022 attributed to its Russia exit– General Motors lost $657 mln– Google’s Russian subsidiary declared bankruptcy in 2023 with debts totaling $587 mln. A Russian court has fined the company $2.5 decillion for restricting Russian media channels on YouTube– Whirlpool recorded $400 mln in Russia losses– Coca-Cola lost $195.4 mln– Disney reported $195 mln in losses from “depreciation of intangible assets” in Russia in 2022– IBM recorded $300 mln in losses in 2022, blaming Russia and inflation for 3,900 slashed jobs– Starbucks suffered undisclosed losses after closing its 130 Russian coffee shops, accounting for nearly 1% of global sales– Microsoft lost $126 mln– Ford took a $122 mln hit– Nvidia lost $100 mln– Apple recorded $79.3 mln in losses– Xerox faced $80 mln in losses in Q4 2023– Adobe reported $75 mln from lost payments in Russia and Belarus– Netflix cut off 700,000 Russian subscribers (about $55.1 mln in potential losses, although some Russians switched their accounts to other regions)– John Deere halted production at a 100,000 sq. m facility it had pumped over $40 mln into from 2005-2022. Caterpillar, which left in 2024, saw Russia earnings fall from $64.5 mln in 2021 to $2.3 mln in 2023– Visa and Mastercard recorded $35 and $30 mln in losses, respectively in 2022– HP wrote off $23 mln– Cisco went $20.3 mln into the red– Oracle lost $13.7 mln– Western Union reported a 2% hit to 2022 revenues due to loss of the Russian and Belarusian markets
