Putin promises tough road back for Western businesses that 'slammed door defiantly' on Russia

Dmitry Antonov and Darya Korsunskaya

Tue, Mar 18, 2025, 6:35 AM 2 min read

By Dmitry Antonov and Darya Korsunskaya

MOSCOW (Reuters) - Western companies that "slammed the doorway defiantly" erstwhile they near Russia volition not beryllium allowed to bargain backmost the businesses they discontinue for tiny amounts of wealth oregon capable niches that section businesses person taken, President Vladimir Putin said connected Tuesday.

Hundreds of Western firms person exited Russia since Moscow sent tens of thousands of troops into Ukraine successful February 2022.

Companies person taken antithetic approaches with immoderate selling up, others handing the keys to existing managers or, successful immoderate cases, abandoning the assets altogether.

Some, specified arsenic Renault, McDonald's and Henkel, agreed buy-back options erstwhile exiting, though the presumption of specified deals person mostly been kept nether wraps.

Putin, speaking astatine a Moscow concern forum, said helium had asked the authorities to support an oculus connected Western companies that mightiness person buy-back deals to guarantee that each lawsuit was cautiously considered if specified deals were activated.

Putin said helium respected businesses that had continued to enactment with Russia, but held a antithetic presumption for those that had "slammed the doorway defiantly" erstwhile exiting.

Companies that near nether home governmental unit and sold their assets astatine a throwaway terms should not beryllium allowed to repurchase for the aforesaid tiny sum, Putin said.

"If the niche of a Western institution is already filled by a Russian business, then...as we say, the bid has left," Putin said.

He besides cautioned Russian concern that Western sanctions connected Russian individuals and businesses, totalling 28,595 according to a concern ministry tally, were not impermanent and that adjacent if they were eased different obstacles to doing concern would beryllium thrown up.

"We should not anticipation for implicit state of trade, payments and superior flows," Putin said. "Nor should we number connected Western mechanisms for defending the rights of investors and entrepreneurs.

"Our competitors volition ever privation to weaken and incorporate us," Putin said. "Even if 1 broadside makes a motion and offers to assistance oregon easiness something, different method of causing problems for america volition beryllium recovered immediately."

(Reporting by Dmitry Antonov successful Moscow and Darya Korsunskaya successful London; Writing by Alexander Marrow; Editing by Andrew Osborn)