Russian Minister of Industry outlines conditions for return of foreign companies to Russian market

(Patria) - It is too early to talk about specific conditions for the return of foreign companies to the Russian market because sanctions have not yet been lifted, said Russian Minister of Industry and Trade Anton Alikhanov for TASS in an interview on the sidelines of the St. Petersburg International Economic Forum.

„For now, it is too early to talk about specific parameters for Western companies that want to return to the Russian market. Sanctions on Western companies have not yet been lifted. We are now exploring systemic approaches to this issue. However, certain potential conditions for foreign companies can already be highlighted, for example, reinvestment of profits, localization of production, and opening branches in historical regions,” Alikhanov said.

Russia is primarily interested in joint production facilities realized on its territory, the minister said.

„We are not interested in simply becoming a sales outlet,” he added.