Foreign companies that left Russia and financed Ukraine's army, as well as companies branded as "foreign agents," will not be allowed to return to the country's market, Russian state-controlled RBC news agency reported on April 10, citing undisclosed sources.
Russian President Vladimir Putin ordered the authorities in February to prepare for the return of Western companies, emphasizing that Russian firms should have "certain advantages" over those re-entering the market.
The news comes amid a thaw in relations between Moscow and Washington as the new Trump administration seeks to broker a peace deal in Ukraine.
As of late March, Moscow had not received official requests from foreign companies seeking to return, Deputy Chairman of Russia's Security Council Dmitry Medvedev said.
The final version of the document has not yet been agreed upon, according to RBC's sources.
Preliminary criteria say that foreign firms willing to return to Russia will not be allowed to do so if they have a "hostile position," finance Ukraine's Armed Forces, or are classified as "undesirable organizations" or "foreign agents."
The latter two classifications have been widely used by Russia to target and silence groups and individuals who are critical of the government, including independent journalists, activists, and NGOs.
Companies that stopped fulfilling their obligations to their employees and owed wages, taxes, and other mandatory payments before leaving Russia may also be banned from returning.
In addition, foreign firms may be obliged to localize production to a certain level, transfer technologies to Russia, and locate production facilities and engineering and scientific development centers in the country, RBC reported.
Since Russia launched its full-scale invasion of Ukraine in 2022, hundreds of Western companies have withdrawn from the Russian market, unwilling to contribute to the country's economy or war effort.
According to the Kyiv School of Economics Institute, 472 foreign firms have fully exited, while another 1,360 have scaled down their operations.
Kateryna Denisova
(Updated: )
