Putin orders preparations for Western companies to return to Russia – FT
www.pravda.com.ua
Fri, 21 Feb 2025 19:38:43 +0200
Vladimir Putin has ordered his Cabinet of Ministers to prepare for the return of Western companies to the Russian market.
Source The Financial Times Details The Kremlin leader said that he wants Russian companies to have certain advantages over those that return to our market in retaliation for Western sanctions.
The newspaper notes that these comments are the first sign of Russias willingness to welcome Western companies after Putins fullscale invasion of Ukraine three years ago caused businesses to flee the country.
Since then, 472 foreign companies have left the Russian market, while another 1,360 have reduced their presence in the country, according to KSE.
Kirill Dmitriev, head of Russias National Welfare Fund, which helped organise the talks between Russia and the US, claims that US companies have lost US324 billion due to the exodus.
The KSE Institute claims that US companies had only US52 billion in assets in Russia, while the US companies that left generated only US36 billion in revenue between 2021 and 2023.
First Deputy Prime Minister Denis Manturov said detailed discussions are unlikely until Western countries lift sanctions.
Background Russia expects a number of US companies to resume operations in its market in the second quarter of 2025.
This was stated by the head of the National Welfare Fund, Kirill Dmitriev, after meetings with US representatives.
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