Russian President Vladimir Putin on May 26 called for punitive action against Western companies still operating in Russia, saying they must be "strangled" in response to what he described as Western attempts to suffocate the Russian economy.
"We should strangle them. I agree completely. I'm speaking without any shame, because they're trying to strangle us. We need to reciprocate," Putin said during a meeting with Russian entrepreneurs.
The remarks came in response to a proposal from one business representative to "slightly" restrict the work of remaining Western companies, naming Microsoft and Zoom as examples.
The participant claimed, citing unnamed analysts, that Russia's IT industry was losing billions due to continued reliance on foreign services. Putin took the suggestion further, urging the government to identify those still using Western software.
"Give us everyone who can't get rid of these bad habits. I'm not kidding, seriously," he said.
Following the start of the full-scale invasion of Ukraine in February 2022, hundreds of Western companies exited Russia or suspended operations under public pressure and legal sanctions.
According to data from the Kyiv School of Economics, 472 foreign firms have fully withdrawn from Russia, while another 1,360 have scaled back their operations.
In some cases, Moscow has directly seized assets from companies that remained in the country. The Kremlin's increasingly hostile approach has been viewed as retaliation for freezing around $300 billion in Russian sovereign assets abroad.
Despite the rhetoric, Russia continues to explore paths for re-engagement with foreign businesses. In February, Putin instructed his government to prepare for the eventual return of Western firms.
Still, no formal requests have been received from companies seeking re-entry, according to Dmitry Medvedev, deputy chairman of Russia's Security Council and former president.
Martin Fornusek
Independent journalism needs a community —
not a paywall.
We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.
Our goal: reach 20,000 members to prove independent journalism can survive without paywalls, billionaires, or compromise. Will you help us do it?
(Updated: )
