Money Talks

Western firms head to exit Russia as sanctions mount


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Western businesses are scrambling to disentangle themselves from the Russian economy, which is growing increasingly isolated due to Western-led financial sanctions. Payments giant Mastercard says it's blocked several Russian banks from its network due to the restrictions by the US and Europe. Tech giants are also taking a stand, led by Facebook and Instagram owner Meta. It's restricting access to state-owned Russian media channels RT and Sputnik. That follows a similar move by China's TikTok. But the most significant departures are from Russia's biggest money-maker: the energy sector.
Susannah Streeter is an investment analyst at Hargreaves Landsdown in Bristol. She joined us to discuss implications of the sanctions on Russian economy.
#SanctionsonRussia #RussiaUkraineWar #BusinessesExitRussia
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