Russia to ban foreign companies that financed “hostile” organisations from returning to market

Foreign companies that have left Russia and financed organisations "hostile" to Moscow will reportedly not be able to return to the Russian market. This follows from the preliminary criteria that the Russian government has developed for foreign companies wishing to resume operations in the country.

Source: RBC, a Russian media outlet, with reference to informed sources 

Details: In particular, it is planned to deny re-entry to the Russian market for a "hostile position" and financing of the Armed Forces of Ukraine (AFU), "undesirable" organisations and "foreign agents".

The Russian government also intends to refuse entry to companies that, before leaving Russia, had ceased to fulfil their obligations to employees and had debts on wages, taxes and other mandatory payments.

Additional requirements are also being discussed. In particular, companies may be obliged to localise production to a certain level, transfer technologies to Russia, and locate not only production facilities but also engineering and scientific development centres in the country.

In addition, Russian businesses might be able to assess the risks arising from a foreign company's resumption of operations.

Meanwhile, RBC sources stressed that the final version of the document had not yet been agreed upon.

Background: The Russian economy slowed down sharply and the outlook looks bleak.

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