Russia will impose requirements for localization, investment for returning foreign companies - Mishustin

MOSCOW. March 26 (Interfax) - Foreign investors seeking to return to the Russian market must primarily be those who never announced their departure, maintained the operations of Russian subsidiaries or which can offer unique technologies, and all companies will face mandatory localization and capital investment requirements, Prime Minister Mikhail Mishustin said.

In mid-March, President Vladimir Putin instructed the government to prepare conditions for the potential return of non-residents who left Russia amid sanctions, should they wish to resume operations in the Russian market, Mishustin said.

"We will be guided exclusively by our national interests. Absolute priority goes to Russian producers in industries critical for achieving technological leadership and to agricultural producers. First and foremost, [regarding returning companies] we are considering companies that never announced their departure from Russia, continued operations through subsidiaries, and acted responsibly towards employees - those who left under government pressure while preserving jobs, contacts and technologies, even suffering financial losses while keeping return options open - why not. Those possessing unique competencies in this regard are also important," Mishustin said while giving a report on the government's performance in 2024 at the State Duma.

"Requirements must necessarily include localization and investments in Russia," Mishustin said. "All decisions will be made individually by a special commission," he said.

Later on Wednesday, Russian First Deputy Prime Minister Denis Manturov told reporters that the government does not intend to prepare any special list of foreign companies that could qualify for a return to the Russian market. "No one has prepared any such list, and no one will. By that I mean, first, companies should come forward with such an initiative themselves," he said. Manturov said that at this time he is not aware of any foreign investors having approached the government with proposals to consider resuming their business in Russia.