Western firms invest billions in Russia as economy returns to growth

“This is the moment for investment, I strongly believe in the potential of the Russian market long-term,” said the general director of IKEA Russia, as quoted by Bloomberg.

The inflow of foreign investment into the country slowed two years ago after a series of anti-Russia sanctions introduced by Western nations over the conflict in Ukraine.

Major corporations like General Motors had to curtail operations in Russia. The devaluation of the ruble reduced companies’ dollar and euro revenues, though sharply cut operating costs.




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