Putin: Western companies can take back Russian assets if conditions are right

Russian President Vladimir Putin said that if conditions are favorable in the future, Western companies can get back their assets in Russia.

After Russia launched its aggression against Ukraine in February 2022, it was not only criticized and sanctioned by Western governments, but companies also terminated their business activities in Russia, causing the assets of these companies to be confiscated by Moscow. However, Russian President Vladimir Putin clarified that the control of foreign corporate assets belongs to "external custody", and if future circumstances permit, there is still a chance to return the assets to their original owners.

Putin said at the Valdai International Discussion Club held in Moscow on the 1st that Russia's acceptance of Western corporate assets was only in response to the West's confiscation of Russian assets. "We have not nationalized any assets of anyone. Yes, we have implemented external trusteeship for some companies. But some European countries, such as the Federal Republic of Germany, blatantly broke all norms and took over large-scale enterprises of our country."

I was asked whether it would be possible for European companies to get back their assets in Russia if the environment and conditions are right. "Yes, they can get those assets back," Putin said.