STORY: Hold or fold?
Its the dilemma facing hundreds of Western companies still operating in Russia.
That as Donald Trump returns to the White House promising to end the Ukraine conflict, and while Moscow's tougher exit conditions have also made it costlier to leave.
Many companies, including Renault, McDonald's and Heineken, have left Russia since Moscow sent troops into Ukraine three years ago.
The firms usually took big writedowns and sold their assets at steep discounts demanded by the Kremlin.
Others - namely makers of food and hygiene products like PepsiC o and Mondelez - have stayed, citing humanitarian reasons.
Russia tightened its exit terms in October to encourage businesses to stay.
Moscow demanded discounts of at least 60% on exit transactions, and a 35% "voluntary contribution" to Russia's budget from the deal price.
Reuters spoke to 15 people involved in dozens of Western corporate exits from Russia for this story.
They said companies still present would carefully watch what Trump can deliver and adjust their plans accordingly.
It is far from clear what Trump can accomplish in his second term.
His advisers have now conceded the Ukraine conflict will take at least months to resolve.
Yet some analysts believe his arrival may give some companies the political cover to stay on in Russia.
Others could see prospects for potential sanctions relief as an opportunity to leave.
One investor said companies already reluctant to go may be more likely to wait things out.
