Until recently, Vladimir Putin announced the opposite. During the March Congress of Entrepreneurs in Moscow He emphasized that he did not intend to make life easier for Western companies that “boldly slammed the door”leaving the Russian market after the invasion of Ukraine in 2022, he announced full control of each return case or attempts to enter back into a previously abandoned niche. Now Russia seems to alleviate its approach and facilitate investing foreign companies.
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There will be a new decree of the President of Russia
After the invasion of Ukraine and the introduction of Western sanctions, Russia banned foreign companies to withdraw their assets from the country, requiring them to keep them on special accounts. It aimed to stop the potential “escape” of capital from Russia. Now the country is trying to attract investors back and bring new ones. Therefore, several changes were adopted, as mentioned by the Reuters agency Aleksiej Yakowlew, head of the Ministry's Financial Policy Department.
“The framework regulating the influx of new money and ensuring the possibility of withdrawing this money and the income generated from them has already been resolved,” he said.
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Jakowlew also added that a new presidential decree may be issued about the middle of the year to alleviate capital control with new investments. Only the principles of current investors will remain in force then. The changes are to cover not only countries considered “friendly”, such as China or India, but also those that Russia considers “unfriendly”.
