The government in Moscow expects international retail chains to return quickly to the Russian market. Russia’s Economy Minister Maxim Reshetnikov said on Monday the closure of many foreign companies’ shops was linked to supply chain and logistics problems. “These are the problems that the Russian economy has to deal with, and foreign companies also have to deal with these problems.” Since the Russian invasion of Ukraine, many companies have stopped doing business in Russia, whether in protest or because of the sanctions. These include international retail chains such as Ikea and the Hennes & Mauritz Group, which have closed their branches for the time being.
Reshetnikov said nothing about possible political reasons for companies to withdraw from Russia. He reported that at a meeting, company representatives had asked about the logistics, about replacing European suppliers with Asian ones. In addition, the companies retained their Russian workforce. He therefore expects these companies to return once the supply chains have been reorganized. “Our market hasn’t disappeared, companies have been making good money here for quite a long time, business in our country has been profitable.” (dpa)