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Russian business quickly fills vacated niches — Kremlin

It was reported earlier that 75.9% of foreign companies remain in Russia and the ones that left suffered very big losses

MOSCOW, January 9. /TASS/. Russian businesses are nimbly occupying niches formed on the market after the exit of certain foreign companies, Kremlin Spokesman Dmitry Peskov told reporters on Monday.

"Some left, some stayed. Those who left could not leave an empty void because the market structure is such that it is filled instantly. We see our business very quickly occupies these empty niches," Peskov said, commenting on a statement made by State Duma Speaker Vyacheslav Volodin.

The Speaker of the lower house of the Russian parliament said earlier that 75.9% of foreign companies remain in Russia and the ones that left suffered very big losses. Domestic producers are filling vacated niches and ramping up production, he added.