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The principles governing the return to the Russian market of foreign companies that left the country after 2022 were discussed at a meeting of the State Council's investment committee. The 22 October meeting was chaired by Valery Limarenko, Governor of Sakhalin Region.

According to Limarenko, the main principle that the authorities intend to adhere to is 'don't harm your own people.' "We need to protect the Russian business projects that have emerged over the past two to three years and have effectively replaced the foreign companies that left the Russian market," he said.

The governor thinks it worthwhile, when considering the foreign companies' return, to establish a graduated distinction between large, medium and small businesses. Business associations should play a key role in developing these approaches, Limarenko stressed.

Deputy Economic Development Minister Denis Tyupyshev, in turn, stressed that it is important to maintain regular dialogue with good-faith foreign investors. The platform for such dialogue is still the Foreign Investment Advisory Council (FIAC), which, he said, is often asked by foreign businesses about the possibility of receiving support in Russia. The FIAC includes 24 foreign companies that "continued to operate as usual" after 2022, Tyupyshev noted.

According to the deputy minister, the Russian authorities are open to dialogue with foreign businesses, but "the investor profile, as it were, is now important." The Economic Development Ministry, together with relevant agencies, is currently continuing to develop potential terms for foreign businesses to return, focusing particularly on the circumstances under which they ceased operating in Russia.

According to Alexander Ivlev, coordinator of foreign members of the FIAC, a register of good-faith foreign investors could be created – those companies "which, despite the difficulties, have remained committed to the Russian market and continue to operate, produce goods, and pay taxes and salaries to their Russian employees." For such investors there should be a "simplified approach, assistance in obtaining various approvals, and support measures."

Tyupyshev further said that the industry criteria for the return of foreign companies will take into account whether assets were sold or transferred to a Russian entity for interim management, whether jobs and job teams were preserved, and whether they left with any debts, including the payment of taxes and salaries. The "absence of financial, material, technical, consulting and other assistance to a foreign country, or to an international or foreign organisation, or individuals and entities representing them, in activities directed against Russia's security, activities violating its territorial integrity or discrediting Russia and other hostile actions" will also be taken into account.

Another important criterion will be whether they refrained from taking action making it impossible to build new logistics chains for the supply of finished goods or components essential for production in Russia. Technology transfer as part of joint ventures and investment commitments by a foreign company to develop production in Russia, where import substitution does not cover the production needs of a particular industry, may be a precondition for the approval of deals for businesses to return to Russia.

Maria Glukhova, executive vice president of the Russian Union of Industrialists and Entrepreneurs (RSPP), said that the business association's proposals largely echo the position of the FIAC. The RSPP believes that additional criteria for companies entering the Russian market could include the possibility of establishing a joint venture with Russian business owners, the presence in Russia of all components of the production management and intellectual property chain, and the creation of investment plans.

Glukhova also listed commitments not to sell assets for a certain period of time, adherence to the principles of responsible business conduct, job creation, and, where possible, the creation of technology centres, competency centres, and research centres in Russia, depending on the field the company operates in. In addition, the RSPP believes a further possible stipulation could be to restrict the payout of dividends for a certain period of time.

Alexander Kalinin, president of business support organization Opora Russia, noted that the return of foreign companies should be carefully considered not only by large businesses, but also by small ones. He pointed out that before the departure of foreign brands, a number of market segments, such as clothing, were "heavily monopolised." "The Russian clothing industry is now on the rise, and here we must not only make some major strategic decisions, but also look at what happened and what will happen in the medium-sized business sector in particular. And we are ready to act as an analytical and expert platform here in order to prevent the revival of monopolies in certain sectors of the economy," he said.

In spring 2025, President Vladimir Putin ordered that criteria be developed for the return of foreign businesses. He noted, in particular, that those who sold their businesses in Russia at a discount should not be able to buy them back at the same low price upon their return. The Russian Union of Industrialists and Entrepreneurs, Delovaya Rossiya, and the Chamber of Commerce and Industry prepared proposals on the terms under which the return should take place. In late spring, amendments were submitted to the State Duma, which prescribed restrictions on the return of former foreign owners of Russian companies. In particular, the amendments allowed Russian companies or agencies to deny a foreign investor's option to repurchase a Russian business sold after February 2022. Subsequently, the Economic Development Ministry significantly revised the bill, minimising the potential number of cases in which such unilateral denial could be applied. However, the amendments have not yet been adopted, and the basic bill for which they were being prepared for a second reading was approved without them.