“Russia wants to do largescale TRADE with the United States when this catastrophic ‘bloodbath’ is over, and I agree,” Trump said in a statement after a phone call with Putin. “There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED.”

The president then shifted his tone toward Putin after heavy drone and missile attacks on Kyiv, saying Putin “has gone absolutely crazy” and threatening new sanctions. That and recent comments from Putin warning Western companies against reclaiming their former stakes seemed to reflect reality more accurately — that it’s not going to be a smooth process for businesses going back into Russia.

That’s because Russia’s business environment has massively changed since 2022. And not in ways that favor foreign companies.

And with Putin escalating attacks and holding on to territory demands Ukraine likely isn’t going to accept, a peace deal seems distant indeed.

Here are factors that could deter U.S. companies from ever going back:

Risk of losing it all

Russian law classifies Ukraine’s allies as “unfriendly states” and imposes severe restrictions on businesses from more than 50 countries. Those include limits on withdrawing money and equipment as well as allowing the Russian government to take control of companies deemed important. Foreign owners’ votes on boards of directors can be legally disregarded.

Companies that left were required to sell their businesses for 50% or less of their assessed worth, or simply wrote them off while Kremlin-friendly business groups snapped up their assets on the cheap. Under a 2023 presidential decree the Russian government took control of Finnish energy company Fortum, German power company Unipro, France’s dairy company Danone and Danish brewer Carlsberg.

Even if a peace deal removed the U.S. from the list of unfriendlies, and if the massive Western sanctions restricting business in Russia were dropped, the track record of losses would remain vivid. And there’s little sign any of that is going to happen.

While the Russian government has talked in general about companies coming back, “there’s no specific evidence of any one company saying that they are ready to come back,” said Chris Weafer, CEO of Macro-Advisory Ltd. consultancy. “It’s all at the political narrative level.”

Russia’s actions and legal changes have left “long-lasting damage” to its business environment, says Elina Ribakova, non-resident senior fellow at the Bruegel research institute in Brussels.

She said a return of U.S. businesses is “not very likely.”

‘We need to strangle them’

In a meeting at the Kremlin on May 26 to mark Russian Entrepreneurs Day, Putin said that Russia needed to throttle large tech firms such as Zoom and Microsoft, which had restricted their services in Russia after Moscow’s invasion of Ukraine, so that domestic tech companies could thrive instead.

“We need to strangle them,” Putin said. “After all, they are trying to strangle us: we need to reciprocate. We didn’t kick anyone out; we didn’t interfere with anyone. We provided the most favorable conditions possible for their work here, in our market, and they are trying to strangle us.”

He reassured a representative from Vkusno-i Tochka (Tasty-period) — the Russian-owned company that took over McDonald’s restaurants in the country — that Moscow would aid them if the U.S. fast food giant tried to buy back its former stores. Asked for comment, McDonald’s referred to their 2022 statement that “ownership of the business in Russia is no longer tenable.”

Not much upside

On top of Russia’s difficult business environment, the economy is likely to stagnate due to lack of investment in sectors other than the military, economists say.

“Russia has one of the lowest projected long-term growth rates and one of the highest levels of country risk in the world,” says Heli Simola, senior economist at the Bank of Finland in a blog post. “Only Belarus offers an equally lousy combination of growth and risk.”

Most of the opportunity to make money is related to military production, and it’s unlikely U.S. companies would work with the Russian military-industrial complex, said Ribakova. “It’s not clear where exactly one could plug in and expect outsize returns that would compensate for this negative investment environment.”

Repurchase agreements

Some companies, including Renault and Ford Motor Co., left with repurchase agreements letting them buy back their stakes years later if conditions change. But given Russia’s unsteady legal environment, that’s tough to count on.

The Russian purchasers may try to change the terms, look for more money, or ignore the agreements, said Weafer. “There’s a lot of uncertainty as to how those buyback auctions will be enforced.”

But what about the oil and gas?

Multinational oil companies were among those who suffered losses leaving Russia, so it’s an open question whether they would want to try again even given Russia’s vast oil and gas reserves. US.. major ExxonMobil saw its stake in the Sakhalin oil project unilaterally terminated and wrote off $3.4 billion.

Russia’s major oil companies have less need of foreign partners than they did in the immediate post-Soviet era, though smaller oil field services might want to return given the size of Russia’s oil industry. But they would have to face new requirements on establishing local presence and investment, Weafer said.

Some never left

According to the Kyiv School of Economics, 2,329 foreign companies are still doing business in Russia, many from China or other countries that aren’t allied with Ukraine, while 1,344 are in the process of leaving and 494 have exited completely. The Yale School of Management’s Chief Executive Leadership Institute lists some two dozen U.S. companies still doing business in Russia, while some 100 more have cut back by halting new investments.

EU sanctions could remain even if US open

U.S. sanctions are considered the toughest, because they carry the threat of being cut off from the U.S. banking and financial system. But the EU is still slapping new rounds of sanctions on Russia. Even if U.S. sanctions are dropped, EU sanctions would continue to present compliance headaches for any company that also wants to do business in Europe.

Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Signing Day Sports, Inc. (NYSE: SGN) and One Blockchain LLC. Upon closing of the proposed transaction, Signing Day shareholders are expected to own approximately 8.5% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger is fair to Signing Day shareholders.

If you would like to discuss your legal rights regarding the proposed transaction, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-sgn/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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The viral resistance band set has gotten a major upgrade, perfect for upper-body strength and portable training

All products featured on Athletech News are independently selected by our editors. However, when you buy something through our retail links, we may earn an affiliate commission.

Known for its viral success on TikTok, Gymproluxe has refined its popular Band and Bar Set with a second-generation design that’s sleek and portable. With up to 200 pounds of resistance in a package small enough to throw in a gym bag, the Gymproluxe Band and Bar Set 2.0 is an exciting new at-home or on-the-go gym system.

There are three pairs of bands (22 lbs, 33 lbs and 44 lbs), all color-coded and connected to a padded belt system (almost reminding me of a Pilates reformer). The included steel bar screws together in two pieces and allows users to train bilaterally, mimicking barbell-style movements without heavyweights or bulky gear.

So does the tool work well to maintain gains on the go? Athletech News put the Gymproluxe to the test.

Pros

With built-in loops, the system allows for creativity; you can do everything from a chest fly to a glute bridge. Gymproluxe’s smart tension design also allows resistance to increase as the band stretches, allowing for explosive power and better muscle activation at the peak of each rep. The system is also more joint-friendly than free weights, making it great for those with injuries.

The set also includes lifetime access to the Gymproluxe app, which offers over 100 guided workouts, community challenges and a downloadable 28-day transformation plan. While the videos do not have the highest production quality, they are easy to follow and effective, with recommendations tailored to your goals.

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Gymproluxe 2.0 is best at effective upper-body training in a compact, travel-friendly format. The tension levels can be easily adjusted by clipping or unclipping bands and the resistance feels smooth and progressive. The bar was best for providing a stable grip for curls, presses and rows. The cloth loop adds range to flys and lateral raises and the belt design helps avoid slippage, offering a comfortable anchor point during both standing and floor-based movements. The system is also surprisingly durable, not fraying after weeks of testing. It also has a lifetime warranty.

Cons

While this set is great for upper-body days, lower-body training is more limited. Price could also be a sticking point. At $149 for the base kit, it’s more expensive than basic resistance bands. However, if you’re serious about making gains while on the go, resistance bands will not be able to provide a similar level of difficulty in many cases.

Overall, if you’re looking to level up your arm, chest and back training and want a minimalist home gym setup with real resistance, Gymproluxe 2.0 is a great option. It’s not a full replacement for your gym membership, but it’s ideal for busy professionals, travelers and anyone who wants a quick workout without a lot of bells and whistles.

PitPat’s latest global race challenges runners to clock their best 6-mile time

Virtual fitness competition platform PitPat is launching a new global event, the Hero’s Half Marathon, as it continues to broaden its competitive offerings in the digital running space.

The 6-mile race will be open to runners worldwide and take place between 10 a.m. ET on May 31 and 9:30 a.m. ET on June 1. Participants are required to queue at least 15 minutes before their selected race slot or risk forfeiting entry.

The event is the latest in a series of interactive challenges hosted by PitPat, which has seen growing adoption among recreational and competitive runners who are interested in real-time virtual competition.

Participants can make multiple attempts to improve their time, with final rankings based on each runner’s fastest finish time. The top performer will earn $400, while runners placing second through 20th will also receive cash prizes.

PitPat’s immersive platform integrates with a range of smart fitness equipment, including treadmills, rowing machines and bikes from partner brands like DeerRun, allowing users to track workouts and receive real-time performance data during virtual competitions.

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“With events like the Hero’s Half Marathon, we aim not only to promote scientifically-informed exercise but also to inspire individuals to push their boundaries through the spirit of competition,” PitPat founder Kevin Zhang said. “PitPat is committed to revolutionizing virtual fitness events and delivering meaningful, value-driven experiences to users around the world.”