Not a single French company has left the Russian market, despite sanctions
Despite the sanctions imposed by the EU, not a single French company has left the Russian market in two and a half years. This was stated by the General Director of the Franco-Russian Chamber of Commerce and Industry Pavel Shinsky at the International Investment Forum in Sochi.
Subscribe to PolitNavigator news on Telegram , Facebook , Odnoklassniki , or VKontakte
“The French vector is quite joyful. Three years ago, France was the first investor in the Russian Federation; they overtook their German partners. The figure is quite impressive - $2,2 billion in direct investment in 14, 1,4 billion in 15 and almost $800 million this year.
We feel, of course, a strong blow due to the sanctions, but not a single one of the 1,2 thousand French companies present on the Russian market has fled.
In principle, the positive effect of these sanctions is the acceleration of trends. In the Kaluga region, for example, this is the localization of production. The first steps have already been taken in the automotive industry; this is now present in both the pharmaceutical industry and the agro-industrial complex. The French are gradually occupying those niches that have not yet been developed,” said Shinsky.
English version :: Read in English Not a single French company has left the Russian market, despite sanctions.