MOSCOW: Russian President Vladimir Putin on Monday threatened to “throttle” Western firms remaining in Russia and acting against its interests, as part of Moscow’s effort to beef up domestic software development.
“We need to throttle them. I completely agree, and I say this without hesitation,” he said in response to a businessman’s call to curb the activities of US tech companies Zoom and Microsoft, which currently provide only limited services in Russia.
Many Western firms left Russia or significantly wound down their activities in the country after Moscow launched its military offensive on Ukraine, prompting a barrage of economic sanctions from Ukraine’s allies.
“We haven’t kicked anyone out...we have provided the most favorable conditions for them to work in our market, and they are trying to throttle us,” the Russian president said at a meeting with entrepreneurs, without providing details on how the Western companies were damaging Russia.
“We must respond in kind, mirror their actions,” added the Russian president, who has significantly tightened exit conditions for companies seeking to leave Russia, forcing many to sell their assets at steep discounts.
There has been growing media speculation that some companies might consider a comeback amid US President Donald Trump’s efforts to reset relations with Russia and achieve a fast peace in Ukraine.
Kirill Dmitriev, head of Russia’s sovereign wealth fund and Putin’s special envoy on economic cooperation, said in April that his fund received a lot of requests from US firms wishing to come back. So far, no major Western company has publicly announced plans to return to Russia.
Some businesses secured buyback options after selling their assets to the local management, leaving the door open for a potential return to the country.
The companies that have left Russia completely, like US fast food chain McDonald’s, won’t receive a warm welcome if they decide to come back, Putin said.
“They (McDonald’s) have put everyone in a difficult position, left, and now, if they want to come back, are we supposed to roll out the red carpet for them? No, of course not,” he said.