NewsAmerican businesses eye Russian return by mid-2025 amid talks

American businesses eye Russian return by mid‑2025 amid talks

Kiril Dmitriev, the head of the Russian Direct Investment Fund (RDIF), indicated that he expects many American companies to resume their operations in Russia as early as the second quarter of 2025. Strengthening economic relations was one of the topics of Tuesday's discussions between the Russians and Americans in Riyadh.

The American McDonald's suspended operations in Russia in March 2022 and later decided to completely exit the market and sell its business. For now, there are no plans to return to the Russian market.
The American McDonald's suspended operations in Russia in March 2022 and later decided to completely exit the market and sell its business. For now, there are no plans to return to the Russian market.
Images source: © Getty Images | Max 4e
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Dmitriev noted that the process for American companies returning to the Russian market will not be easy because some sectors are already occupied. The head of RDIF was present in Riyadh but was not part of Russia's official delegation.

Reuters noted that since the West imposed sanctions on Russia and some companies withdrew from doing business in the country, local companies have taken over parts of the market previously controlled by European and American companies.

The meeting in Saudi Arabia was the first at such a high level since the start of the full-scale Russian invasion of Ukraine on February 24, 2022. After January 20, following the inauguration of the new US President Donald Trump, the American side initiated talks with Russia to bring an end to the war, which the Republican candidate had promised during his election campaign.

Tuesday's meeting lasted 5 hours (1:00–6:00 p.m. Eastern Time). On the American side, Secretary of State Marco Rubio, National Security Advisor Michael Waltz, and special envoy for the Middle East Steve Witkoff, who is also responsible for relations with Russia, participated. At the negotiation table on the Russian side were Foreign Minister Sergey Lavrov and Putin's advisor on international policy, Yuri Ushakov.

The Secretary of State reported that the US and Russia agreed on four issues:

  • Establishing a consultation mechanism to address contentious issues in bilateral relations and restore the full operation of embassies.
  • Appointing negotiation teams for further talks on ending the war in Ukraine.
  • Initiating high-level negotiations to discuss, rethink, and explore both geopolitical and economic cooperation that could occur after the end of the conflict in Ukraine.
  • Continuing the commitment of both sides to improve bilateral relations.

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