Russia sees foreign companies as domestic producers, ready to welcome those who want to return

On June 16, speaking at the St. Petersburg International Economic Forum (SPIEF), President Vladimir Putin said that if foreign companies want to return to Russia, Moscow will not close its doors to anyone, but will create conditions, Russia has never expelled anyone from its market.

Tổng thống Putin: Moscow mở cửa đón công ty nước ngoài muốn quay trở lại Nga

President Putin: Russia is open to foreign companies that want to return.

Russian President Vladimir Putin affirmed that foreign company branches that have remained in Russia in recent times are considered domestic manufacturers.

In addition, Mr. Putin also said that Russia will significantly simplify the process of opening bank accounts for foreign companies. The Russian President said: "We will make it extremely easy for foreign companies to open bank accounts in Russia. In this case, of course, there is not even a need for the presence of a person, subject to all the requirements of the so-called anti-money laundering law."

In addition, President Putin said Russia is also preparing new mechanisms for cross-border settlements.

Previously, in another development related to economic issues, on June 16, Interfax news agency quoted Russian Senate Speaker Valentina Matviyenko as saying that extending the Black Sea grain agreement in the current situation is "impossible".

Speaking on the sidelines of the St Petersburg Economic Forum, Ms Matviyenko echoed statements made by President Putin and other Russian officials that “the limits of our patience… have run out”. However, she stressed that it was important to avoid exacerbating the food crisis in poor countries.

The Black Sea grain deal, brokered by Türkiye and the United Nations, was signed in July last year, allowing Ukraine to resume grain exports from its southern ports. Russia has threatened to abandon the deal on July 17 if Moscow’s demands for improved food and fertilizer exports are not met.

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