However, the number of new companies in Russia with cofounders from former Soviet republics and China has soared in those two years, per Vedomosti. Companies with cofounders from former Soviet republics including Belarus, Kyrgyzstan, and Kazakhstan accounted for 59% of all new companies that established operations in Russia last year, per Vedomosti. AdvertisementCompanies with cofounders from China accounted for 25% — or 1,500 — of new companies in Russia over the first 10 months of 2023. AdvertisementMeanwhile, Russian businesses overseas have also been moving their assets home amid the pressures of Western sanctions and a push by President Vladimir Putin's regime. This still marks a huge decrease from 14% of new companies registered in 2021.

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Persons: —, cofounders, Mikhail Nikolayev, ACRA, Vladimir Putin's Organizations: Service, Business, cofounders, Companies Locations: Russia, Moscow, Ukraine, Soviet, China, Belarus, Kyrgyzstan, Kazakhstan, Turkey, India, Russian