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18 Mar, 14:37

'Train has left the station' for Western companies whose niches already filled — Putin

"There will be no privileges or preferences for those returning," the Russian leader went on to say

MOSCOW, March 18. /TASS/. Western companies will not be given any special treatment as they clamor to return to Russia, and if their niche has already been filled, then that "train has left the station," Russian President Vladimir Putin told a congress of the Russian Union of Industrialists and Entrepreneurs (RSPP).

"I would like to repeat again, we did not expel anyone. Those who left our market made that decision on their own. Whether under pressure from the elites of their countries or not, it doesn't matter anymore," he said.

"In any case, we are talking about experienced businessmen who calculated the risks and understood the consequences of their actions. If the niches of Western companies are already occupied by Russian businesses, then, as I said before, that 'train has left the station.' There will be no privileges or preferences for those returning."

Putin also asked the government to closely monitor this situation and similar deals.

"To prevent cases when the owners sold their business in Russia at a bargain price, essentially left it to its fate, and now they want to buy the asset back for the same peanuts. It shouldn't be like that, that’s not the way it works. The market situation has changed, the companies have become stronger, increased their capitalization and are valued differently. So clearly, any such transactions will need to be considered on a case-by-case basis," he said.