Putin sets tough terms for foreign businesses looking to come back

Kremlin leader Vladimir Putin has stated that apologies alone are not sufficient to allow foreign businesses to return to the Russian market.

Source: The Insider

Details: Putin explained that companies must not only express regret but also demonstrate their value to Russia.

The Kremlin leader noted that many foreign businesses have approached him about returning to Russia, but he stressed that apologies are not enough. He insisted that while some companies might offer excessive flattery to regain access to the Russian market, their return would depend on proving tangible benefits to the country.

Putin added that he personally talks with entrepreneurs from Europe and the US, describing them as serious, competent and pragmatic. However, he emphasised that decisions on their return would be based on a careful assessment of benefits versus potential harm.

Background: 

• Kremlin leader Vladimir Putin has harshly criticised countries that impose sanctions on Russia.
• Despite the Russian authorities’ claims that numerous companies from "unfriendly" countries wish to return to Russia, so far none have applied to resume operations in the Russian market.
• Russia expects that several American companies will resume operations in its market in the second quarter of 2025.
• Vladimir Putin has instructed his cabinet to prepare for the return of Western companies.
• Major South Korean companies are preparing for a possible return to the Russian market.

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