Russia reaccepts foreign vehicle makers

(MENAFN) The Russian government would reaccept the return of foreign vehicle makers that left the nation because of sanctions, as it would improve competition, enhance quality, and lower prices for customers, Kremlin representative Dmitry Peskov stated on Thursday. The remark came to reply to a statement earlier this week that Japan might ease restrictions on vehicle sales to Russia.

At a media briefing in Moscow, Peskov stated such a conclusion would be “pragmatic.”

“Many countries that impose restrictions later pursue their own interests and issue licenses to exclude [certain items] from the lists. This is a very easy thing to do. It’s all very cynical and pragmatic – they do whatever is profitable,” stated Peskov.

In 2022, Japan aligned with other G7 nations in implementing economic and trade sanctions against Russia following the intensification of the Ukraine conflict. As a result, leading Japanese automakers such as Nissan, Toyota, Honda, and Suzuki halted vehicle exports to Russia and ceased local production operations.

This significantly impacted the presence of Japanese cars in the Russian market, with their market share plummeting from 18 percent to 6 percent over the year, based on data from the analytical agency Avtostat.

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