MOSCOW: American companies are ready to come back to the Russian market and introduce new ones, but everything hinges on politics, Russian p...
MOSCOW: American companies are ready to come back to the Russian market and introduce new ones, but everything hinges on politics, Russian presidential envoy for relations with international organizations, Boris Titov, said in an interview with TASS.
"Many companies didn't leave. They showed some courage, because they were under tremendous pressure to exit during [former US President Joe] Biden's presidency. But they stayed. For example, Burger King that never left. But I think most companies, the overwhelming majority of them, would be ready to return. We know all these brands. By the way, Mars, although it slightly adjusted its management system, it remains on the Russian market. Almost all of them would be ready to return, and many new ones would come. But everything depends on politics. Therefore, if restrictions and sanctions are lifted, many will return," he said.
Nevertheless, Titov also pointed out that the Russian market has changed over time, which is taking competition for American companies to a whole new level.
"Russian companies have grown significantly, and Chinese companies have appeared. For example, [domestic] clothing brands are developing today and replacing foreign brands in stores and shopping malls. Russian brands are certainly in first place, but Chinese ones are also there. Therefore, today's competitive environment is completely different, and Americans will have to consider whether they can succeed in this competition," he said.
"I think the principle [which implies] that every company registered in Russia, regardless of the country of its owners, is a Russian company, will remain, and everyone will have equal rights," Titov concluded.
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