Foreign investors who left Russia after selling their businesses there in the period from March 2022 to March 2023 withdrew about $36 billion from the country, according to the Russian RIA news agency.

The Russian news agency citied analysis of data from the Russian Central Bank.

Dozens of the world’s largest companies left or scaled back their operations in Russia in response to Moscow’s invasion of Ukraine in February 2022.

Last week, the Russian Central Bank played down the importance of the impact of the exit of foreign companies, saying that that period witnessed about 200 sales, only 20 percent of which included the sale of large assets of more than $100 million.

Moscow describes its actions in Ukraine as a special military operation, while Kiev and its Western allies describe it as needless aggression to seize territory.

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