US corporations’ direct investments in Russia 9 occasions increased than official figures point out – survey

American corporations working in Russia have made direct investments amounting to a complete of $ 96.05 billion, in keeping with the sixth annual joint survey of the American Chamber of Commerce in Russia (AmCham) and Ernst & Younger.

The survey, which centered on the prospects for direct funding and bilateral commerce between Russia and the US, was based mostly on information from 160 corporations. In accordance with its findings, US corporations invested greater than $ 2.2 billion within the Russian financial system in 2020 alone, and plan to take a position round $ 1.eight billion extra in 2021. Over a half of this cash will go to Russia’s vitality and pure sources business.

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“Regardless of the decline in exercise in 2020 … 84% of corporations reported that they’re planning to launch new initiatives in Russia within the close to future. It is a report worth through the time of our research. For 73.5% of [US] corporations surveyed, Russia is a strategic market,” Ernst & Younger companion Sophia Azizian stated on the 21st AmCham Funding Convention on Thursday.

In accordance with the survey, 78% of corporations really feel the damaging influence of US sanctions on their Russian enterprise, in comparison with 80% final 12 months.

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“The restrictions put American enterprise at an obstacle in comparison with corporations from different nations and create reputational threat,” the survey says.

Additionally, as per AmCham findings, “official statistics underestimate the precise degree of financial relations between Russia and the US,” with bilateral funding figures obtained by researchers as a part of the survey being a minimum of 9 occasions increased than the official figures.

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