Intel Russia went bankrupt in 2023

As a result of the full-scale invasion of Ukraine and the ensuing international scandal, technology giant Intel has reported catastrophic financial losses in its Russian operations. According to the company's official reports, in 2023, revenue in Russia was zero, and losses amounted to more than USD 2.3 million.

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It is noted that this rapid decline began after the opening of the declared war, when Intel suspended its operations in Russia and stopped supplying technology to the terrorist country. This led to a sharp decline in staff numbers. Only one employee remained, Alina Klushina, who is the director of both Intel AO and Intel Technologies.

The report also reflects a downward trend in the company's operations in Russia in recent years. From millions of dollars in revenues in 2021 to zero in 2023 and further to a single employee in 2024.

Another aspect of this situation is the failure of sanctions measures to control exports to Russia. Despite the suspension of operations in the country, Russian companies continue to make significant purchases from Intel, including imports through intermediary countries. In January, Russian companies bought Intel (and AMD) chips worth up to $1.7 billion in 2023. Many of the chips arrived in Russia as re-exports via countries such as China, Turkey, or the UAE.

Source: Tom's Hardware