Putin has ordered preparations for the return of Western companies to Russia, according to the Financial Times.

Vladimir Putin has instructed his cabinet of ministers to prepare for the potential return of Western companies to the Russian market. This was reported by the Financial Times.

According to the Russian leader, local businesses should receive "certain advantages" over foreign companies that decide to return. This move is seen as a response to the sanctions imposed against Russia.

The publication notes that such statements are the first sign of the Kremlin's readiness to welcome back Western businesses after their mass exodus triggered by Russia's full-scale invasion of Ukraine three years ago.

According to KSE data, 472 foreign companies left Russia since 2022, while another 1,360 significantly reduced their operations.

The head of the Russian National Wealth Fund, Kirill Dmitriev, claims that American companies lost $324 billion due to their exit from the Russian market. However, KSE data indicates that their assets in Russia amounted to only $52 billion, and the total revenue of the departing companies from 2021 to 2023 reached $36 billion.

At the same time, Russia's First Deputy Prime Minister Denis Manturov noted that full-fledged negotiations with Western companies are unlikely until the sanctions are lifted.