Russian prime minister clarifies which foreign companies welcome to return

The Russian government is considering Western companies that never fully severed ties with Russia as the first candidates for a potential return, Prime Minister Mikhail Mishustin said.

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Mishustin referred to foreign companies that continued operating in Russia after 2022 through subsidiaries. He emphasized that such firms had taken a responsible approach by maintaining service for their customers and looking after their employees in Russia. As a result, these companies should be given the opportunity to fully return to the Russian market, he stressed.

The Prime Minister noted that after the outbreak of hostilities in Ukraine, many Western companies decided to leave under pressure from their governments. However, they preserved jobs and technology in Russia, leaving the door open for a potential return despite financial losses. Such companies should also be given a chance to resume full-fledged operations in the country, the prime minister added.

Discussions on the possible return of foreign companies that left Russia following the Ukraine conflict have gained momentum amid Moscow-Washington negotiations that began in February. On March 14, President Vladimir Putinstated that Russia was already negotiating the return of some foreign businesses to the Russian market. He added that these discussions were taking place "behind closed doors" and at the initiative of certain foreign partners.

On March 18, Putin ordered the development of a framework for allowing foreign companies to return. He noted that some firms had sold their businesses at a discount, but upon returning, they should not be able to repurchase them at the same reduced price.

According to experts' estimates, up to 350 foreign companies may return to Russia already in 2025. US companies may resume their work on the Russian market in the second quarter of 2025.