Two of the Big Four accounting firms, PwC and KPMG, announced that they would no longer work on the Russian and Belarusian markets, reports Financial Times.
PwC and KPMG are severing ties with member firms in Russia and Belarus, becoming the first Big four accounting firms to leave in the wake of the Ukraine invasion.
"The exit of the Big Four is a big nail in the coffin of the Russian and Belarussian business climate," reacted Yaroslav Zhelesnyak, member of parliament from the Holos fraction and the member of the Financial and fiscal policy committee of Verkhovna Rada.
Among PwC's Russian clients are the biggest bank of Russia, Sberbank, state oil company Gazprom and the Central Bank of Russia. Mars, Toyota, and Credit Suisse are some of its international clients operating on Russian markets.