Tech Companies' Retreat Affects Millions of Russians

The economic sanctions against Russia are having an impact, as evidenced by the rising ruble exchange rate and foreign exchange restrictions. But the effects of the Russian invasion are also being felt by consumers in numerous other respects. For example, 59 percent of people in Russia surveyed for the Statista Global Consumer Survey say they regularly use Instagram. However, the social media site is now blocked by the Kremlin. The same applies to Facebook (37 percent) and Twitter, which is much less popular but still with a reach of 14 percent.

Products - such as smartphones from Samsung and Apple - may soon also no longer be available. Both companies have stopped sales in Russia. Popular tech services such as PayPal or Netflix can also no longer be used by citizens of the Russian Federation. And it's not just tech companies that are leaving the country. According to a list from the Yale School of Management, 300 companies have already announced their withdrawal from the Russian market, including Coca Cola, McDonalds and Nike.