(Reuters] – Russia seeks China, India Iran, Turkey and Iran as a way to close the gap caused by exodus west retail firms, according to an industry group. The move comes as Moscow struggles with ways to counter its isolation from the outside world.

Russian Council of Shopping Centres, an organization representing retailers, developers and owners of shopping centres, stated that it is in negotiations with the relevant representatives from each of these countries to find alternatives to Western brands.

A statement from the RCSC stated that “a list of foreign corporations that temporarily ceased operation in Russia” was sent to these companies so they could find equivalents.

These will be used to supplement, or even completely replace the products from these defunct companies with goods of comparable quality and design.

Since Russia’s February 24th deployment of tens to thousands of troops in Ukraine, it has been the subject of a “special operation,” dozens of large brands have either temporarily stopped operations or left Ukraine.

Some Russians panic bought because of sanctions, which have hindered supply chain and caused panic among them. There are also reports that there is a shortage in medicine and sugar, as well as a rising inflation, which will push prices higher.

The challenges faced by Russian retailers were addressed at a RCSC meeting that included more than 100 participants.

RCSC quoted Igor Maltinsky (director of development at Melon Fashion Group) as saying that domestic retailers face a major challenge due to the rapid increase in production costs. This was due to large increases in logistics and procurement costs.

Melon has four brands for women – Zarina. Befree. Love Republic. Sela. It had 846 shops across Russia and CIS by the end 2021. It was planning an initial public offering (IPO).

Swedish property firm Eastnine was a minor shareholder of Melon on Thursday and announced that the planned IPO has been delayed. According to it, western sanctions had adversely affected the company and made its valuation extremely difficult.