Putin Calls for Regulatory Framework for Western Firms Returning to Russia

Russian President Vladimir Putin has called for a regulatory framework to facilitate the return of Western companies to Russia while ensuring competitive advantages for local producers. During a recent technology forum, he emphasized the need for careful regulation to manage interactions between Russian enterprises and returning foreign competitors. However, First Deputy Prime Minister Denis Manturov stated that discussions about returning Western brands can only commence once sanctions are lifted. This sentiment is echoed by Russia's Industry and Trade Minister, who warned that there will be consequences for companies that previously exited the market. Despite the potential thawing of U.S.-Russia relations, many analysts remain skeptical about the willingness of Western firms to invest in Russia again, citing concerns over corruption and legal protections. Putin's remarks come as the Russian economy faces increasing strain amidst ongoing geopolitical tensions and sanctions.