US Companies May Return to Russian Market in 2025, Claims Wealth Fund Chief
Russia's sovereign wealth fund chief anticipates several US companies returning to the Russian market by the second quarter of 2025, following recent high-level diplomatic meetings between US and Russian officials in Saudi Arabia. The statement comes after numerous Western companies withdrew from Russia in 2022 following the Ukraine conflict, with many accepting significant financial losses and selling assets at substantial discounts. However, the fund's chief, Kirill Dmitriev, notes that returning companies may face challenges as domestic producers have filled many market gaps. The announcement follows meetings between Dmitriev and senior US officials in Saudi Arabia, including Secretary of State Marco Rubio, National Security Adviser Mike Waltz, and Middle East envoy Steve Witkoff. These discussions occurred alongside a separate meeting between Rubio and Russian Foreign Minister Sergei Lavrov, marking the highest-level US-Russian diplomatic engagement since 2022. According to Dmitriev's calculations shared […]