ST. PETERSBURG: It is premature to talk about specific conditions for the return of foreign companies to the Russian market because no sanc...
ST. PETERSBURG: It is premature to talk about specific conditions for the return of foreign companies to the Russian market because no sanctions have been canceled yet, Russian Minister of Industry and Trade Anton Alikhanov told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum.
"It is premature thus far to speak about specific parameters for Western companies desirous of returning to the Russian market. Sanctions on the part of Western companies have not yet been canceled. We are now exploring systemic approaches to this issue. However, certain potential conditions for foreign companies can already be highlighted, for example, profit reinvesting, production localization and opening of branches in historical regions," Alikhanov noted.
Russia is interested in the first instance in joint production facilities realized in its territory, the minister said. "It is not interesting for us to merely become a selling outlet," he added.
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