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Russia invites foreign companies to return, but without privileges

Politiko 2025-03-19 19:09:36

Russia invites foreign companies to return, but without privileges
Russian President Vladimir Putin has ordered the government to develop a procedure for the return of foreign companies that left Russia, emphasizing that their return must be done transparently and in accordance with the country's legal system.

In his speech during a session of the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP), Putin declared that Russia remains a country open to investment. “Whoever wants to return, let them return on a competitive basis within our legal system,” he said.

However, he warned that Western companies will not be able to recover their assets in Russia for symbolic or low amounts. “There will be no special privileges for those who decide to return,” the Russian president stressed, making it clear that conditions for foreign businesses will be equal to domestic ones.

According to reports in the Russian newspaper Kommersant, Putin demanded that the procedures for returning foreign brands be clear and supported by guarantees that these companies will honor their obligations honestly and fairly.

He also noted that Russia is facing a record number of sanctions from the West, with 28,595 punitive measures imposed against Russian individuals and entities. Putin described this as long-term strategic pressure, implying that economic and political clashes with the West will continue.

The Kremlin's decision to invite foreign companies back, but without any special facilities, is seen as an attempt to stabilize the Russian economy and set the rules of the game in favor of the country's interests. It remains to be seen how many companies will be willing to return and what terms they will accept.

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