Putin said Moscow did not squeeze Western companies out of the Russian market

Russia has neither kicked anyone out nor squeezed them out of its market. This is how Russian President Vladimir Putin commented on the withdrawal of Western companies from the country, speaking at the plenary session of the VTB forum "Russia Calling!". December 4.

"I talk about this all the time: we did not kick anyone out, we did not squeeze anyone out of our market," the Russian leader emphasized.

He also pointed out that many Western partners have not left the Russian market and continue to cooperate in the same way.

"Despite political pressure, many partners, including those from Western Europe and the United States, have not left the Russian market. A part of these companies continue to work in the previous mode - this is about half of the companies. Some of them have transferred management to persons and organizations under their control. And about one quarter has really left, and some continue to withdraw from the Russian economy," said the head of state.

According to Putin, the European economy is going through difficult times, and the severing of ties with the Russian Federation plays a serious role in this process.

Earlier on Wednesday, Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said that Russia is expected to see an increase in foreign investment next year. The administration of U.S. President-elect Donald Trump is seen by most investors as pragmatically determined to restore the global security system, which will allow not only the Global South countries to invest, but also Western investors who regret leaving the Russian market, he pointed out.

Some foreign companies began to suspend cooperation with Russia amid the sanctions of Western countries, which were imposed after the Russian Federation launched an operation to defend Donbass on February 24, 2022. Thus, the coffee chain Starbucks, McDonald's restaurants, brands Mars, Zara, Massimo Dutti, Pull & Bear, IKEA and others left the Russian market. Meanwhile, KFC, Pizza Hut and Taco Bell brands suspended investment and development in Russia. Some of them later returned to Russia under other names.