International brands have suffered huge losses due to their exit from the Russian market, President Vladimir Putin said during a meeting of the supervisory board of the Agency for Strategic Initiatives, RIA Novosti reports.
Many foreign companies have decided to leave the Russian market under pressure from their governments.
"All the best! Due to the loss of our market, they are suffering huge losses. It's their choice, it's their decision. Many of them, I know it personally, some of them I know personally, do not find it pleasurable at all. Who wants to lose a streamlined business in which they put their effort and funds?
"It's not even about the money. Many put their heart and soul [into their business], they worked a lot, I must say frankly. Yet, being under pressure from their governments, they are forced to leave. They leave behind a good legacy too. They leave production infrastructure, well-trained personnel. Probably, some may think that all that would immediately collapse and fall apart here, but nothing like that happens. Nothing has fallen apart," Putin said.
According to the president, many politicians and economists also believed that business in Russia would also fall apart after many foreign brands stopped working in the Russian Federation, but they were wrong.
"Our business is picking up these directions,” he said.
After the start of the special operation, Western countries introduced countless restrictions against Russia having thereby toughened the already existing sanctions pressure. A number of countries froze Russian assets. In addition, many brands decided to shut down their businesses in the country.
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