Until 24 February, it was hard to imagine life in Russia without McDonalds, IKEA furniture or iPhones. International companies supplied the vast majority of the country’s non-food items, and provided around two million jobs.
This is because no matter how hostile the Kremlin’s relations with the Western world, the Russian Federation was, until recently, considered a relatively attractive location for international investors.
Since the 1990s, foreign companies have actively settled in the country. In addition to a large consumer market, they have enjoyed comparatively low taxes and a cheap, relatively skilled labour force that was not prone to mobilisation or strikes.
