ST. PETERSBURG, May 21. /TASS/. Under current conditions, foreign businesses can not return to Russia, Chief Executive Officer, Association of European Businesses (АЕВ) Tadzio Schilling said, adding however that Russia must keep its economy open to make this possible in the future.
"The conditions required for companies to return do not exist yet. There is no agreement on the core conflict, not even a minimal decrease in sanctions pressure. On the contrary, as we saw yesterday, a 17th package [of EU sanctions] was adopted. Nevertheless, when it becomes possible, we believe that it is very important to make sure that the Russian economy remains as open as possible," he said speaking at the St. Petersburg International Legal Forum (SPILF).
Foreign businesses understand that when fielding requests from Western companies to return to Russia, Moscow will prioritize its national interests and security, Schilling said.
"We’re aware of the priorities around pharmaceutical security, technological sovereignty, and food security — and that’s understandable. At the same time, wherever possible, we advocate for keeping the Russian economy as open as it can be," he noted.
He recalled a recent statement by head of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin that the line of foreign companies willing to return to Russia is small at this point, but for those that do want to return, certain conditions will have to be laid down for this.
"When we analyze who might return and how, many commentaries concerned behavior: who left and how they behaved when leaving or during those difficulties. I think, and I have already spoken on this topic, that this discussion <…> leads nowhere. Put under pressure, they acted the way they acted. And, probably, many regret they behaved the way they did in some situation," Schilling explained.
He also proposed identifying priority sectors that could serve as starting points for the gradual return of foreign businesses to Russia.
The 13th St. Petersburg International Legal Forum is taking place between May 19 and 21. The forum’s theme this year is ‘Law: Lessons of the Past for the World of the Future.’ TASS is the general information partner of the St. Petersburg International Legal Forum.