President Vladimir Putin delivered a stern message to Western companies that exited Russia following its 2022 military incursion into Ukraine: don’t expect to waltz back in on the cheap. Speaking at a Moscow business forum, Putin emphasized that firms which “slammed the door defiantly” when abandoning their Russian operations will face significant hurdles if they attempt to repurchase their former assets at bargain prices. With hundreds of Western businesses having fled Russia since February 2022, Putin’s remarks signal a hardening stance against their potential return.

The exodus saw varied strategies—some companies, like Renault, McDonald’s, and Henkel, negotiated buy-back clauses when selling, while others handed operations to local managers or simply walked away. Putin revealed he’s instructed the government to monitor any such buy-back deals closely, ensuring each is evaluated individually. He expressed respect for firms that stayed but scorned those that buckled under domestic political pressure and dumped assets at “throwaway” prices. “If the niche of a Western company is already filled by a Russian business,” he quipped, “the train has left.”

This comes as Russia adapts to the absence of Western giants, with local enterprises stepping into vacated markets. Putin’s comments underscore a broader economic reality: the niches left behind aren’t staying empty. He also cautioned Russian businesses against banking on a quick end to Western sanctions, which number 28,595 according to the finance ministry. Even if eased, he warned, new obstacles would likely emerge, urging resilience in the face of prolonged isolation.

For companies that once saw Russia as a lucrative market, Putin’s message is clear—exiting dramatically has consequences. As local players solidify their hold, the window for a cheap return is closing fast, if not already shut. The Kremlin is betting on self-reliance, leaving Western firms to weigh the cost of their earlier defiance.