Putin orders preparations for Western companies to return to Russia – FT
Pravda Ukraine
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 Russia’s willingness to welcome Western companies after Putin’s full-scale 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 Russia’s National Welfare Fund, which helped organise the talks between Russia and the US, claims that US companies have lost US$324 billion due to the exodus.
The KSE Institute claims that US companies had only US$52 billion in assets in Russia, while the US companies that left generated only US$36 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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