Sign in
Download Opera News App



Domestic business easily replaces Western companies leaving Russian market — Putin

Ukraine: <a class=Russia threatens to nationalise foreign companies leaving"/>

According to Russian news agency TASS, President Vladimir Putin remarked on Tuesday in a speech to workers at the Ulan-Ude Aircraft Factory that domestic enterprises quickly replaced multinational firms that departed the Russian market.

"When Western firms left us, they expected everything to fall apart at once. This has never happened before. Russia's economic actors grew up, became stronger, developed their own culture, and formed global links. They quickly replaced the fleeing firms "He stated this.

Russian corporations "began to purchase up these enterprises where it was fair," the President continued.

"Yet, there are still well-trained work teams and well-established cooperation chains that function in some capacity." In general, a cluster has been formed. They accepted it with ease. The president made this observation.

Putin went on to say that domestic businesses rushed to fill the void in the market. He stated that output in the middle and small company segments is currently increasing.

Last month, Russian President Vladimir Putin warned that international firms were incurring significant losses as a result of quitting the Russian market due to Western sanctions.

Putin stated on state television at a meeting with top officials that the potential for local business development is "colossal" and that Russia has not suffered as a result of the departure of foreign enterprises.

Putin also sought to assert that the outflow of international enterprises from Russia demonstrated the United States' dominance over other Western governments and economies.

"Many people lament having to go. "All of this is a symptom of the internal situation of these nations, which are unable to make independent decisions," he continued.

He went on to say that Russia is "a sovereign country that should be looking forward."

Content created and supplied by: LookCloserLerin (via Opera News )

Russia Russian TASS Vladimir Putin Western


Load app to read more comments