Putin Orders Return of Foreign Businesses
(MENAFN) Russian President Vladimir Putin has directed the national administration to begin preparing conditions for the reintegration of overseas enterprises that exited the domestic marketplace amid the conflict in Ukraine.
A significant number of international corporations, including prominent American companies like Microsoft and McDonald’s, severed connections with Moscow in 2022, attributing their decisions to the commencement of Russia’s military campaign in Ukraine.
This withdrawal of global brands was also driven by broad economic penalties levied on Russia by Western nations.
Putin has consistently stated that these international businesses departed voluntarily and emphasized that Russia remains open to welcoming them back.
Nevertheless, he underscored the necessity of safeguarding the interests of local enterprises as part of this process.
Following discussions on Monday with Delovaya Rossiya, a Russian business advocacy group, Putin tasked officials with evaluating proposals related to the conditions under which “individuals from unfriendly foreign countries” might resume operations within Russia or purchase assets like real estate and shares.
Currently, Russia’s classification of “unfriendly countries” encompasses the majority of European Union states, along with the United States, United Kingdom, Canada, Japan, South Korea, Australia, and New Zealand.
According to Russian Finance Minister Anton Siluanov, limitations on investments originating from such “unfriendly” states could potentially be relaxed.
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