Russia set to lower investment bars for friendlies

Russia is taking steps to ease investment processes for citizens and companies from a group of “friendly” countries as it seeks to build an anti-Western coalition and mitigate the impact of sanctions on its economy. Prime Minister Mikhail Mishustin announced the simplification of investment procedures for investors from 25 countries considered allies by Russia. This move is part of Russia’s broader strategy to strengthen ties with countries worldwide in the wake of Western efforts to isolate it following the invasion of Ukraine in 2022.

The list of “friendly” countries whose citizens and companies will benefit from simplified investment processes includes China, India, Brazil, Saudi Arabia, Turkey, Kazakhstan, and Belarus. These measures aim to facilitate the opening of Russian bank accounts and making deposits, thereby attracting foreign enterprises and entrepreneurs.

Russia has classified “unfriendly” nations as those that have joined Western-led economic sanctions imposed in response to the Ukraine conflict, which it has likened to a “declaration of war.”

Russia’s Defence Minister, Sergei Shoigu, has accused the United States and its Western allies of undermining international security and harming Russia’s interests. Tensions between the U.S. and Russia have escalated since Russia’s invasion of Ukraine, leading to a protracted conflict.

The United States and Western nations have provided significant humanitarian, financial, and military aid to Ukraine while imposing extensive sanctions on Russia, contributing to the deterioration of relations between the two countries.