Large russian Businesses Are Rapidly Losing Assets Abroad

Dozens of leading russian companies – “gazprom”, “sberbank”, “rosneft”, “lukoil”, “vtb”, “rostekh”, “rosatom”, etc. – have lost key assets abroad under the pressure of sanctions, nationalizations and breaking up with partners. This has an extremely negative impact on the rf’s budget revenues due to a reduction in foreign exchange earnings.

Among the most high-profile cases – the loss of control over energy projects, banking licenses, and the forced withdrawal from large infrastructure and defense contracts.

This list has been joined by “alrosa”, which has completely been squeezed out of the Angolan Catoca diamond mine – another step toward ousting russia from the global gemstone market.

Against the background of a rapid decline in revenue (-42 % in the first quarter of this year), the accumulation of unsold products worth $1.3 billion, and the loss of the Indian market for its products, “alrosa” is cutting staff, stopping projects, and giving up dividends. The company ended 2024 with an increase in net debt to $1.14 billion and the worst financial performance in the last decade.