Large Russian businesses are rapidly losing assets abroad, according to intelligence reports

This was reported by the Foreign Intelligence Service of Ukraine.

It is noted that dozens of leading Russian companies – Gazprom, Sberbank, Rosneft, Lukoil, VTB, Rostec, Rosatom, etc. – have lost key assets abroad under pressure from sanctions, nationalization, and the severance of partnerships. This has an extremely negative impact on the Russian Federation's budget due to a reduction in foreign currency revenues.

Among the most high-profile cases are the loss of control over energy projects, banking licenses, and the forced withdrawal from major infrastructure and defense contracts.

Alrosa has joined this list, having been completely squeezed out of the Catoca diamond mine in Angola. This is another step towards Russia's elimination from the global gemstone market.

Against the backdrop of a sharp drop in revenue (-42% in the first quarter of this year), an accumulation of unsold products worth $1.3 billion, and the loss of the Indian market for its products, Alrosa is cutting staff, halting projects, and refusing to pay dividends. The company ended 2024 with net debt rising to $1.14 billion and its worst financial performance in a decade.

Source: Ukrinform