America News Agency

According to the minister, the departure of several foreign brands has created unique opportunities for Russian entrepreneurs and companies from friendly countries. And they have fully taken advantage of them. Thanks to government support measures, including for the small and medium-sized business sector, domestic producers have been able to rapidly increase the supply of goods and services.

Reshetnikov stated: "The Russian business sector has made significant investments to fill the gaps left by foreign companies after their departure. It is very important for us that these investments pay off."

At the same time, emphasizing the importance of maintaining competition and controlling prices in the interest of consumers, as well as preserving market diversity, Minister Reshetnikov said: "In this context, the Russian market has been and remains open. All decisions will be made individually, balancing these two factors... It is clear that the Russian economy has changed. Therefore, requirements for foreign companies in terms of localization, investment, and technology will be completely different."

Reshetnikov recalled that Russia had stated from the beginning that its response to any sanctions would be maximum economic openness and an improved business environment. "As a result, the country's attractiveness for business and investment has increased significantly. Doing business here is profitable and convenient," he emphasized.

Earlier, several media outlets and Telegram channels, citing sources, reported on plans for some foreign brands and companies, including automotive brands, to return to Russia.

Deputy Prime Minister of the Russian Federation, Denis Manturov, stated on Thursday that Russian authorities would allow only those foreign companies that are of interest to the country to enter the domestic market.

Minister of Industry and Trade, Anton Alikhanov, emphasized that Russia is not welcoming back foreign car brands with open arms and that they will have to pay the price for their return.