No Special Treatment for Returning Western Firms: President Putin
19:27 18.03.2025 (Updated: 20:06 18.03.2025)
© Sergei Bobylev
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MOSCOW (Sputnik) - There will be no privileges or preferences for Western companies returning to Russia, let them return on a competitive basis, Russian President Vladimir Putin said on Tuesday.
"There will be no privileges and preferences for the returnees. At the same time, Russia remains an open country — whoever wants to can return on a competitive basis," Putin said during a plenary session of the Russian Union of Industrialists and Entrepreneurs Congress.
Some companies that left Russia are planning to return, we know about it, Putin said.
"I ask the government to update the list of foreign companies that have stopped working in Russia, as well as to develop a procedure for coordinating their return with mandatory guarantees of fair and responsible business conduct in our country. But this process, of course, should be as transparent as possible," Putin said.
🚨No preferences for companies who want to return to 🇷🇺Russia — you’re welcome on COMPETITIVE BASIS: President Putin
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Russia respects the foreign companies which stayed in the country, even under different brands, retaining staff and technologies, Putin added.
Further, he said that the government will prioritise the interests of Russian companies if foreign business returns to the country.
"The interests of Russian companies, enterprises and their employees will always be a priority for us. It is from this position that we will consider the return of foreign business to our market," Putin said at the congress of the Russian Union of Industrialists and Entrepreneurs.
Russian business capitalised on the withdrawal of foreign companies from the domestic market, the president said.
"Russian business has wisely taken advantage of this opportunity, filled vacant market niches, invested funds, created jobs and devoted a lot of time and effort to technological development," he added.
Putin also said he hoped that Russian business would play an active role in joint projects with BRICS partners.
"I do hope that Russian business will take the most active part in these joint projects together with our BRICS partners and its future members," Putin said.
