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Russia wants foreign companies to continue working in country

The United States and its allies have responded by imposing comprehensive sanctions against Russia, while many Western companies have decided to leave the Russian market. AP Photo/Gene J. Puskar

The United States and its allies have responded by imposing comprehensive sanctions against Russia, while many Western companies have decided to leave the Russian market. AP Photo/Gene J. Puskar

Published Mar 14, 2022

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Moscow - Russia would prefer foreign companies suspending activities in its market over Ukraine continue working in the country, inasmuch as their withdrawal benefits no one, Russian Finance Minister Anton Siluanov said on Monday.

“Of course, the withdrawal of these companies from our market benefits no one and is mutually very harmful, hits foreign companies and, certainly, affects our economy.

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“Therefore, we are interested in companies continuing to operate. And many companies are doing so,” Siluanov told the Rossiya 24 broadcaster.

At the same time, the minister noted that the authorities have developed a special mechanism for accelerated bankruptcy, temporary management and the sale of these companies to new owners.

“Such a mechanism will be available in 3-6 months, depending on the attitude of the owners of such companies. This applies to companies with foreign capital participation of 25% or more,” Siluanov said.

The minister expressed the hope Western countries will make it possible to make payments on sovereign eurobonds in foreign currency, given that Russia fulfills its obligations.

“I would like to hope, of course, that Western countries will create and open opportunities for making payments on debts, which largely fall on foreign investors from those countries that have decided to limit the use of Russian international reserves,” Siluanov said.

On February 24, Russia began a special operation to demilitarize and “denazify” Ukraine, responding to calls for help from the Donetsk and Luhansk people's republics in countering the aggression of Ukrainian troops.

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The Russian Defence Ministry said the special operation is targeting Ukrainian military infrastructure only and the civilian population is not in danger. Moscow has repeatedly stressed that it has no plans to occupy Ukraine.

The United States and its allies have responded by imposing comprehensive sanctions against Russia, while many Western companies have decided to leave the Russian market.

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Sputnik

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