Thousands of firms halted operations in Russia last year as Western governments-imposed sanctions. Some managed to negotiate swift exits. The pace has now slowed substantially but the rules are even harder to navigate for those remaining
Gaining government commission approval is very demanding, time-consuming and difficult, said Dr Peter Wand, a partner at Baker McKenzie in Frankfurt, who worked on Nokian Tyres' exit.
"You have much, much less visibility on the external factors than you would normally have on any other business deal," said Kormendi, who had the impression that the commission was overwhelmed with the number of applications to process. "Foreigners should not be let off at full price...it should be hard for them," Moiseev said, with exceptions made when it suits Russia. "That is, when it is better for us that foreigners leave in a civilised way, rather than quitting and just locking up the business they owned."
Companies' relations with the government are crucial, said Tatiana Stanovaya, founder of the R.Politik analysis firm.
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