A quarter of Russian companies that lost Western partners and exited the market managed to secure new collaborations. This finding comes from statements attributed to Sergey Katyrin, president of the Russian Chamber of Commerce and Industry (CCI), as reported by RIA Novosti.
According to Katyrin, sanctions have left a significant mark on the operations of more than six in ten surveyed firms. Yet about one in four companies that were cut off from their international partners succeeded in finding new ones. This statistic underscores a shift in business networks and the ongoing search for viable substitutes in a changing global landscape.
Katyrin noted that today roughly one third of Russian businesses are actively seeking fresh partners. To facilitate this process, he highlighted concerted efforts such as major business missions, including a recent cluster visit to Iran that brought together around 100 representatives from various Russian enterprises. These initiatives illustrate a strategic pivot toward diversifying trade connections and creating new avenues for cooperation amid evolving sanctions regimes.
In light of these developments, the economist emphasized the need to speed up the economy’s restructuring. He called for expanded legal support for entrepreneurs and more robust assistance in establishing foreign trade ties, recognizing that navigating regulatory and tax environments abroad remains a critical barrier for many firms seeking international collaboration.
Additionally, reporting from RBC in early December indicated ongoing frictions for Russian companies with foreign subsidiaries and for branches of foreign firms attempting to wind down operations in Russia. The difficulties largely revolve around interactions with the Federal Tax Service. A central issue cited is the prohibition by parent offices abroad on subsidiaries contributing tax payments to the Russian budget, complicating the tax compliance landscape and hindering orderly exits from the local market.