Most foreign companies continue to operate in the Russian Federation

Jun, 10 2024

Since the beginning of the Special Military Operation and the introduction of many sanctions against the Russian Federation, foreign businesses have faced a number of difficulties, primarily forced pressure from their own governments, in order to leave the Russian market and comply with sanctions policies.

At the same time, the majority of foreign companies remained in Russia and continue to work; information about the mass departure turned out to be misinformation. This was stated by the President and CEO of the American Chamber of Commerce in Russia, Robert Agee, at the St. Petersburg International Economic Forum (SPIEF).

Moreover, foreign businesses remaining in Russia assess their prospects more stable than in the past two years. This was also announced by the General Director of the Association of European Businesses, Tadzio Schilling, during a speech at the Russian Pharmaceutical Forum named after N.M. Semashko.

As the Russian government assures, Russia remains open to foreign investors. The President also said this several times that Russia remains open – no one will close the doors to foreign business, even against the backdrop of existing difficulties, the Russian market does not lose its prospects.

The legislative framework also does not apply any restrictions to the operating activities of foreign businesses in the Russian Federation, even if there are close ties with unfriendly countries.

All preferences and benefits provided for by the programs of the Government of the Russian Federation and legislation continue to apply to foreign businesses, as well as special economic zones continue to develop.

Author of the article
Most foreign companies continue to operate in the Russian Federation
Valentina Khlavich
Managing Partner
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