Putin specifies terms for return of Western companies
(MENAFN) President Vladimir Putin has stated that Western companies that exited Russia following the escalation of the Ukraine conflict may be allowed to return, but only if it aligns with Russia's economic interests. He emphasized that businesses that acted disrespectfully or insulted Russia will not be welcomed back.
At a meeting with Russian business leaders on Tuesday, Putin said the behavior of departing companies must be evaluated carefully. He dismissed the idea that a simple apology would suffice, arguing that Western companies may apologize purely out of self-interest to regain market access. Instead, decisions should be based on pragmatic and strategic considerations.
Putin clarified that Russia would only permit the return of companies if it serves national interests. Otherwise, authorities should find ample justifications—aligned with World Trade Organization standards—to deny their reentry.
In March, Putin instructed the government to create strict regulations for the return of Western firms, prioritizing protection for domestic businesses. His investment envoy, Kirill Dmitriev, noted that some companies have already begun reentering Russia discreetly.
Recent trademark filings hint at this trend. In late 2024, McDonald’s applied for over 50 new trademarks, sparking speculation about a potential comeback. South Korea’s Hyundai and Italy’s Ariston have also registered new trademarks, and LG Electronics has resumed operations at its Moscow-based appliance plant.
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