Putin tells potential returning investors an apology is not enough
The Kremlin intends to set high barriers for the potential return of foreign investors who fled Russia at the start of the war against Ukraine.
It is important to consider how these companies behaved after their departure, and whether they, for instance, helped Ukraine, Putin said during a meeting with the association Business Russia.
The Russian leader dismissed the suggestion that returnees should apologize as insufficient. "Oh no. That is by no means enough," said Putin.
Western company executives should immediately apologize if they expected advantages in Russia from doing so, he said. Russian corporations need to be protected from strong competition. Therefore, a pragmatic assessment of benefits is necessary, he added.
If it is advantageous for Russia for a particular company to come, then Moscow must let them in; otherwise, any pretext is valid to deny them entry, Putin said.
In most cases, this can be reconciled with WTO rules - and otherwise, Russia "will argue in court for at least 15 years," said the 72-year-old president.
After the war against Ukraine ordered by Putin, many Western companies left Russia due to sanctions imposed by Europe and the United States.
Despite the mass exodus, the Russian economy has continued to grow by pivoting toward war production.
Officially, Russian authorities remain confident that many foreign investors will eventually return once the conflict is resolved, although no companies have publicly announced concrete plans to do so.
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