Putin assessed the possible return of Western companies to Russia

The government should address the issue of Western companies returning to RUSSIA so that domestic companies can retain their preferences, Putin is confident. The sanctions that forced them to leave played a stimulating role for business in Russia Vladimir Putin (center)

President Vladimir Putin, speaking at the plenary session of the Future Technologies Forum, commented on the possible return of Western companies to Russia. He suggested that this process be approached carefully so as not to lose the acquired potential.

"External problems, sanctions , with all the challenges and difficulties, played an important stimulating role for us. Russian companies are now increasingly turning to our scientists and receiving such assistance. Moreover, domestic solutions often turn out to be more effective than foreign ones," the HEAD of state noted.

He asked the government to take on the process of returning companies to the Russian market  ; it must regulate this process so that domestic enterprises retain the preferences they have received.

"I ask the government to think about how we can regulate the interaction between our enterprises and the enterprises of our competitors in order to provide national producers with certain advantages. Yes, within the framework of the WTO, but nevertheless, certain difficulties have been created for us. And we can accordingly regulate the return to our market of those who want to return," the head of state said.

Discussion of the possible return to Russia of Western companies that left the Russian market after the start of the military operation in Ukraine in 2022 began against the backdrop of negotiations between Russian and US delegations in the Saudi Arabian capital of Riyadh. The meeting was preceded by a conversation between Putin and US leader Donald Trump.

Following the talks, the parties agreed to continue contacts, work on restoring bilateral relations, and appoint representatives to discuss the settlement of the Ukrainian conflict. Secretary of State Mark Rubio, who participated in the talks, did not rule out that if peace is achieved in Ukraine, the United States could lift sanctions against Russia.

The head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, who, along with Foreign Minister Sergei Lavrov and presidential aide Yuri Ushakov, was part of the Russian delegation in Riyadh, stated that some American companies could return to the Russian market as early as 2025.

Vice President of the Union of Shopping Centers (STC) Pavel Lyulin spoke about unofficial negotiations with the owner of the Zara and Bershka brands — Spanish Inditex — regarding a possible return to the Russian market. At the same time, the Swedish retailer H&M stated that it does not intend to return to Russia. The resumption of work on the Russian market was not ruled out by the French automaker Renault. The head of the State Duma Committee on Financial Markets Anatoly Aksakov stated that the Visa and Mastercard payment systems may return to Russia "in the near future."