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Compensation for Exiting Russian Market will be required for return of foreign companies

Presidential Adviser and Executive Secretary of the SPIEF Organizing Committee Anton Kobakov added that companies aiming to return will be expected to operate not only in Moscow, Vladivostok, and Saint Petersburg, but also within the territories of Donbass and Novorossiya

ST. PETERSBURG, June 21. /TASS/. Compensation for the damage caused by foreign companies that exited the Russian market in 2022 will be one of the conditions for their return, Presidential Adviser and Executive Secretary of the St. Petersburg International Economic Forum (SPIEF) Organizing Committee Anton Kobakov told reporters on Saturday.

"Now these companies [that have left] are saying, ‘We want to come back.’ They inflicted considerable damage on us, and we expect them to compensate for it. At the very least, such compensation will be one of the prerequisites for any business seeking to re-enter our economy," Kobakov said.

He added that companies aiming to return will be expected to operate not only in Moscow, Vladivostok, and Saint Petersburg, but also within the territories of Donbass and Novorossiya. This will also be a condition for their return.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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