Putin says Russian firms should honour buy-back clauses if foreign companies seek to return

ST PETERSBURG, Russia, June 20 (Reuters) - President Vladimir Putin said on Friday that Russian companies should honour buy-back clauses negotiated by exiting foreign firms if those same firms seek to return and said Russia welcomed foreign investment.

Putin reiterated however that companies which left the country under pressure from their own governments were not reliable partners and that Moscow would seek more stable relationships.

Foreign direct investment into Russia has fallen sharply, U.N. data showed this week.

Putin said authorities in Russia realised that nationalising assets was not beneficial for the Russian economy.