Western Companies Leave Russia En Masse, Putin: Thank God

President Vladimir Putin (Photo via @KremlinRussia_)

JAKARTA - Many western companies are choosing to leave Russia permanently. President Vladimir Putin even expressed his gratitude for the steps taken.

For example, last March, McDonald's closed 850 restaurants across Russia in protest at the country's invasion of Ukraine. Now McDonald's is taking a more decisive step, leaving Russia completely.

President Vladimir Putin said he was pleased with some foreign companies that have now left Russia. Putin believes that domestic businesses can replace the role of western companies.

Putin also warned the West that Moscow would again find ways to acquire advanced technology. and luxury goods that have been coming from western companies.

For Putin, the invasion of Ukraine was a turning point in Russian history.

Since the war, a number of major foreign investors - from BP to McDonald's - have left just as the Russian economy is facing its worst contraction since the years following the turbulent Soviet collapse.

"Sometimes when you see those who leave - thank God, maybe? We will occupy their niche: our business, our production - it has grown, and it will safely sit on the ground prepared by our partners," Putin said. quoted from The Straits Times, Friday 27 May.

Speaking via video link to leaders of ex-Soviet countries, Putin quipped that luxuries like the Mercedes that their citizens loved would still be available. But he guessed the items might be a little more expensive.

"It will cost them a bit more, but these are the people who have already driven the Mercedes 600 and they will still do it. I can assure you they will take it from anywhere, from any country," he continued.

He did not specify how Russia would find ways to maintain access to western components and software.

Putin promised that Western efforts to isolate Russia would fail.