Putin declares majority of Western companies staying in Russia
Date
12/19/2024 6:22:33 AM
(MENAFN) President Vladimir Putin asserted on Wednesday at the Russia Calling! forum in Moscow that Russia has not pressured foreign companies to leave the country, and the majority of them continue to operate despite Western sanctions. He noted that, despite Political pressure from their home governments, many firms from the US and Western Europe have remained, with half continuing operations as before the sanctions. Only about a quarter have left or are in the process of exiting, while some companies have transferred management to local control.
Putin highlighted that the economic challenges faced by the European Union were partly due to the sanctions and the loss of stable Russian energy supplies and trade opportunities. He pointed out that the EU's economic struggles are exacerbated by the loss of the Russian market for products, components, and logistics routes, and the inability to use its currency for transactions. He particularly noted the severe impact on industries such as glass, chemicals, fertilizers, and agriculture, as well as the German economy, which has been hit hard due to the loss of Russian energy and raw materials, especially affecting its automobile sector. Despite these difficulties, Putin emphasized that Russia remains open to foreign companies.
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