Russia is ready to welcome some Western enterprises back to the domestic market, but only when that brings practical benefits to the Russian economy.
TASS reported that President Vladimir Putin affirmed this stance at a recent meeting with Russian business leaders, marking a new turning point in economic relations between Moscow and the West after many years of sanctions and cracks.
Since 2022, after the Ukraine conflict escalated, a series of corporations from the US, Europe and Asia have simultaneously withdrawn from Russia, citing supply chain difficulties due to sanctions, concerns about secondary sanctions or negative reactions from public opinion. However, 3 years later, the situation is changing.
We need to look at how they have behaved, Putin stressed. Those who are rough and insulting to us will not be allowed to return. On the suggestion that an apology from these businesses was enough, Mr. Putin replied firmly: "No. It's clearly not enough."
According to the Russian president, many smart Western businessmen are willing to apologize if that helps them return to this large market. But for Moscow, the apology is not a ticket of entry. We must accept everything practically, Putin said.
President Putin stressed that only companies that are truly beneficial to the Russian economy will be considered for a comeback. I said frankly: if it is beneficial to us, let them in. If not, we can find thousands of reasons, completely reasonable, completely according to WTO law, to refuse, Putin said.
In March, the Russian president asked the government to develop a strict regulatory framework to control the return of Western enterprises, with the goal of protecting domestic enterprises.
Although not widely publicized, some businesses have quietly found a way back. According to Mr. Kirill Dmitriev - President Putin's special envoy for investment - "some companies that have withdrawn from the Russian market are returning. It's just that no one has reported it yet."
At the end of April, the Russian Institute of Industrial Park (Rospatent) recorded McDonald's submitting more than 50 new brand registrations, including food and beverage products - a signal that analysts suspected that the "big guy" of US fast food may be preparing to return.
Also in April, TASS news agency quoted Rospatent as saying that Hyundai (Korea) had registered at least 8 new brands in Russia.
LG Electronics confirmed in March that it had resumed operations at its Moscow home appliance factory. Ariston (Italy), a name in the household appliance industry, also announced its return to the Russian market at the same time.
By putting national interests first, Russia is opening a selective "rear door" for the West. Not an apology, but economic efficiency, that is the prerequisite. With a strong yet practical message, Mr. Putin is reshaping Russia's role on the global trade map - no longer a passive side, but a playwright.
