Will Western Companies Return to Russia if Trump Strikes a Deal with Putin?

By Evans Momodu
4 minute digest
Published February 20, 2025 – 15:41 UK(GMT) 

With discussions underway between Washington and Moscow about ending the war in Ukraine, a major question arises: can Western companies reverse their exodus from Russia?

As long as broad Western sanctions remain, a large-scale return seems unlikely. However, if U.S. President Donald Trump’s administration moves to ease restrictions, businesses may reconsider their stance on what was once a lucrative market.

Which Companies Left and How?

Since Russia’s February 2022 invasion of Ukraine, over 1,000 companies, including McDonald's, Mercedes-Benz, and Renault, exited the country by selling assets, handing them over to local managers, or abandoning them entirely. Some, like Danone and Carlsberg, had their assets seized by the Russian government.

Western firms have acknowledged losses totaling $107 billion, while Russian officials claim U.S. businesses alone have lost $324 billion due to their departure. Some companies, including McDonald's and Renault, negotiated buyback options when selling off their Russian assets, potentially allowing them to re-enter the market.

Which Businesses Might Return First?

Russian officials claim some U.S. companies could begin returning as early as Q2 2025 if political conditions allow. Industries that operate outside of sanctions—such as retail and food production—are the most likely to return, while energy and finance firms face greater regulatory barriers.

Senior Russian lawmakers have also suggested that Visa and Mastercard could soon resume operations, though both companies insist their suspension in Russia remains in place.

Why Would Western brands in Russia Stay Away?

Many firms, including Carlsberg and Unilever, strongly condemned Russia’s actions in early 2022, making their exits a moral as well as financial decision. If a peace deal results in Russia gaining Ukrainian territory, these businesses could face significant reputational damage if they choose to return.

For now, Western corporations must weigh political risks, economic opportunities, and global public opinion before making any moves back into the Russian market.
Source: CNN 
Image: Reuters