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News > Russia

Foreign Companies Interested in Working in Russia

  • RCCIPresident Sergey Katyrin says Russia is not closed to foreign capital and the world market. Apr. 26, 2022.

    RCCIPresident Sergey Katyrin says Russia is not closed to foreign capital and the world market. Apr. 26, 2022. | Photo: Twitter/@RussiaNewsDir

Published 26 April 2022
Opinion

The Russian Chamber of Commerce and Industry (RCCI) president said that most companies with foreign capital are willing to keep working in Russia. However, they want to reduce business risks. 

RCCI President Sergey Katyrin told TASS on Tuesday after a meeting with representatives of foreign business associations that fears of foreign companies regarding business activities in Russia "are due to work within the framework of decisions on parallel imports." 

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According to Katyrin, foreign companies hold serious concerns over introducing amendments to Art. 201 of the Criminal Code, adding to the crime of abuse of power a new nature of crime in the form of executing foreign sanctions.  

The official went on to say that a draft law addressing the potential for external management of those foreign companies which have withdrawn from the Russian market under Western sanctions constitutes a concern for foreign companies. 
 
Regarding the work within the framework of decisions on parallel imports, Katyrin said that mainly the opportunity to make modifications under which a certain number of product groups can be imported into Russia without the copyright holders' consent, is also a cause of concern.

The RCCI president said that Russia is ready to maintain its active participation in international economic relations, noting that the country is not closed to foreign capital and the world market.    

The Russian Chamber of Commerce and Industry will discuss further joint actions based on proposals and comments from foreign business associations on draft laws of concern to them, said Katyrin, who added that it was agreed to continue working closely together and holding such meetings with regularity.    

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