Russia possesses adequate fuel refining capacity and is even exporting, according to Deputy Prime Minister Alexander Novak. Despite a 20-30% surge in domestic demand due to panic buying and reduced production from refinery attacks, the country is fully supplied.
The Bank of Russia is not setting a specific timeframe for phasing out Visa and Mastercard cards, stating they will be gradually withdrawn from circulation. Elvira Nabiullina noted that these cards function similarly to Mir cards and their share in the Russian market is already declining, currently standing at around 17%.
The American Chamber of Commerce in Russia (AmCham) estimated that American businesses have lost approximately $100 billion due to their withdrawal from the Russian market. These losses stem from selling assets below their true value and losing market share, affecting all commercial sectors. Many US companies that left are considering a return, awaiting authorization from Washington and the lifting of sanctions.
Dmitriev stated that many European companies are signaling a desire to re-enter the Russian market, experiencing significant drops in trade volume. Russian authorities will welcome their return on competitive terms, provided they did not act "rudely" upon departure.
Kirill Dmitriev, head of Russia's RDIF, expects a meeting with US Presidential Envoy Steve Witkoff and Jared Kushner later in June to discuss economic cooperation. He also noted that many European companies are signaling a desire to return to the Russian market, citing the economic crisis following the Iranian conflict and higher energy costs in Germany.
Russian Deputy Minister of Industry and Trade Roman Chekushov announces that Russian marketplaces have logistics centers in almost all CIS countries, with further expansion into China and Ethiopia, aiming to boost Russian goods exports.
Slovak PM Fico stated that despite strong rhetoric, more EU premiers are calling for dialogue with Russia. He noted German firms rushed to a summit in St. Petersburg, anticipating a swift return to the Russian market after the war ends.
Russian marketplaces like Ozon are becoming unified platforms for vendors from EAEU and CIS countries, facilitating market entry and customer base expansion. Ozon operates in eight neighboring countries, with significant growth in seller turnover.
Vittorio Torrembini, President of the Association of Italian Entrepreneurs in Russia (GIM Unimpresa), stated that numerous Italian companies are anticipating the normalization of relations between the EU and Russia to resume operations in the Russian market.
VTB CEO Andrey Kostin stated that growing investor interest from China, Persian Gulf states, and other countries in Russia is a positive development, noting that the Russian market needs foreign investment.
US companies are reportedly eager to return to the Russian market, despite ongoing sanctions. Russian Deputy Foreign Minister Sergey Ryabkov stated that the US policy of sanctions prohibits cooperation in various areas, including fuel purchases.
Armenian flower exporters are heavily dependent on the Russian market, which accounts for over 90% of their revenue. In 2025, Russia imported $46 million worth of flowers from Armenia, representing 93.8% of the country's total flower export income. Georgia and Kazakhstan are distant second and third largest importers.
Russian Deputy Foreign Minister Sergey Ryabkov stated that US companies remain interested in the Russian market and are seeking opportunities to return, despite ongoing US sanctions.
Perm's Incab plant, backed by the Industrial Development Fund, has launched production of fiber-optic cable cores for underwater communication lines serving Russia's Far East and Arctic Zone. The facility will produce over 2,400 km of cable annually, representing nearly 50% of the Russian market. The 1 billion ruble project involves interregional production with the optical core manufactured in Perm and finished cables made in Primorsky Region.
