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European companies suffer €100bn hit from Russia operations

Energy and utility groups have reported more than half the combined losses, according to FT analysis of direct impact of the Ukraine war
Europe’s energy groups the most badly hit by sale of stakes in or closure of Russian businesses, with BP selling its stake in Rosneft after the invasion

Europe’s biggest companies have suffered at least €100bn in direct losses from their operations in Russia since President Vladimir Putin’s full-scale invasion of Ukraine last year, according to analysis by the Financial Times.

A survey of 600 European groups’ annual reports and 2023 financial statements shows that 176 companies have recorded asset impairments, foreign exchange-related charges and other one-off expenses as a result of the sale, closure or reduction of Russian businesses.

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