Nearly a third of foreign retailers have left Russia following Western sanctions over the conflict in Ukraine, Russian daily Izvestia reported on Thursday.

A total of 27% of companies that leased premises in shopping centers decided to terminate their activities in Russia, consulting company CORE.XP (formerly CBRE) told Izvestia. A further 51% of foreign brands suspended business operations and 22% are undergoing restructuring.

Among those who announced their departure are H&M Group (which operates COS, Monki, Weekday, & Other Stories, H&M home, Arket and other brands), Nike, Starbucks, Victoria’s Secret, Lush and Lego. Among the brands currently undergoing restructuring are Levi’s (JNS), and L’Occitane (Л’Окситан), Izvestia says.

The list of companies that have suspended operations includes Inditex (Zara, Massimo Dutti and others), MAC, Jo Malone, Decathlon, Adidas, Puma, Hugo Boss and Swarovski.

According to Izvestia, some retailers that stayed have reported a 40% increase in revenues.

Russia’s trade ministry says that the majority of foreign companies are interested in resuming their activities as soon as possible and are working through various options. According to Izvestia, Chinese, Turkish and Iranian companies are negotiating their entry into the Russian retail market, while domestic brands are also increasing their presence.

READ MORE:

https://www.rt.com/business/560197-number-retailers-quit-russia-revealed/

MEANWHILE THE OLD MAN FOGS UP.....:

Brittney Griner’s conviction is “unacceptable” and Russia must release her “immediately,” US President Joe Biden said on Thursday, after a Moscow court gave the Olympic basketball champion a nine-year sentence on drug charges. He also described Griner as “wrongfully detained.”

Griner’s sentence is “one more reminder of what the world already knew: Russia is wrongfully detaining Brittney,” Biden said in a statement released by the White House. The US president is isolating at the White House after his Covid-19 symptoms returned. 

“It’s unacceptable, and I call on Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates,” the statement said, adding that the US government will “continue to work tirelessly and pursue every possible avenue” to bring home both Griner and Paul Whelan, whom Russia convicted of espionage in 2020 and sentenced to 16 years. 

A district court in Khimki had found Griner guilty on charges of smuggling illegal narcotics and sentenced her to nine years in a penal colony, slightly less than the nine and a half the prosecutors demanded. The presiding judge also ordered her to pay a fine of one million rubles ($16,200).

READ MORE:

https://www.rt.com/news/560249-biden-brittney-griner-verdict/

THE OLD MAN IS A HYPOCRITE:

HE SHOULD FREE JULIAN ASSANGE NOW........................