Russia to ease investment rules for "friendly" nations including Turkey

Russian Prime Minister Mikhail Mishustin unveiled a significant policy change on Monday, signaling Russia's commitment to welcoming foreign investment by simplifying the process for citizens and companies from a select group of "friendly" countries. The move is aimed at fostering international economic cooperation and bolstering Russia's financial sovereignty in line with the country's national goals.

During a speech delivered at a session of the Moscow government, Prime Minister Mishustin emphasized the importance of creating more convenient conditions for foreign enterprises and entrepreneurs. "This is an important part of the government's systemic efforts to achieve financial sovereignty as part of the implementation of the national goals set by our president," he stated.

Under the new procedure, entities from a list of 25 "friendly" countries will be granted the privilege of opening bank accounts in Russia and making deposits through a simplified process. These 25 countries, which include economic powerhouses like China, India, Brazil, Saudi Arabia, Turkey, Kazakhstan, and Belarus, will benefit from an expedited investment framework.

The definition of "friendly" countries in this context is based on mutual cooperation and diplomatic ties, where these nations have not joined Western-led economic sanctions against Russia in response to the ongoing conflict in Ukraine. Moscow's stance on the matter is clear; countries that have joined these sanctions are categorized as "unfriendly.