Russia without Hollywood, iPhones, McDonald's: Vladimir Putin just doesn’t care2 min read . Updated: 30 May 2022, 05:22 PM IST
President Vladimir Putin has remarked that he is relieved that several foreign firms departed Russia. Around 1,000 international corporations have reduced or sold off at least some, if not all, of their operations in Russia as a result of the sanctions.
Most major Hollywood studios have pulled out of Russia due to Vladimir Putin's invasion of Ukraine. According to a Russian cinema owner, almost all cinemas in Russia may close by the end of the year after major Hollywood studios cease their licences in the country. According to Pichugin, Hollywood blockbusters accounted for almost 80% of Russian cinema's earnings. Russian cinemas started to show Soviet and old foreign films instead of the newly released ones in an attempt to save the business, which was already significantly hit by the COVID-19 pandemic. There are speculations that Bollywood may replace Hollywood in Russia.