French company left the Russian market three years ago. To return, you may have to pay more than 1 billion euros.
Almost 500 companies left of operating no Russian market Shortly after the beginning of War in Ukraine. Many by their own choice, others to follow the sanctions packages imposed by the West to Russia.
One of these companies was the Renault. As early as 2022, he sold the Russian market share for only 1 ruble (1 cent) and left – from the second largest national market for Renault, only surpassed by the homemade, the Frenchman.
Now, If you want to reentRenault may have to pay The modest amount of… 1.15 billion euros.
The revelation comes in, which cites Renault’s previous market partner in Russia, Avtovaz.
Maxim Sokolov, Avtovaz’s executive director, justified: his company and the state of Russia itself They invested Virtually this amount in the sector in the last three years.
So, “Now of course these investments have to be compensated Somehow, ”said Sokolov, to the agency.
It should be noted that in 2022, when Renault sold its 67.6% quota at Avtovaz to Kremlin, he had the option to buy the actions again by 2028.
For now, and according to a spokesman, the Renault has no intention of returning to Russia. And did not comment on Sokolov’s statements.
This warning must be viewed as a signal: as other companies Westerners must go through it when they want to return to the Russian market.
According to David Szakonyi, a specialist in Russian economy affairs, returning to Russia will not be… in a bass. “Letting foreign companies return without cost would reduce the profits of the Russian companies that have gained space in this period.”
“And the market will be much more competitive. Therefore, the Russia will want some kind of compensation For liberalizing your market, continues Szakonyi.
An even more evident signal for other Western companies was given by Anton Alikhanov, Minister of Industry and Business: “Russia will not receive anyone with open arms. There is a price to pay for the decisions made in the past“.
Lack is to realize if Renault, and hundreds of companies, are really interested In returning to Russia, a country that crosses seriousness.
Until the panorama changes, while the instability predominates, it is unlikely to have a mass return.
