US companies want to return to Russia – lobby chief — ApsnyNews Business News

American businesses welcome the Trump administration’s efforts to renew dialogue with Moscow, in hopes that they can return to the Russian market, the head of the American Chamber of Commerce in Russia (AmCham), Robert Agee, has told ApsnyNews. 

The AmCham has supported President Donald Trump’s efforts to restore relations with Russia since he assumed office in January, and has called on Washington to ease the sanctions on Russia for months. 

“It’s better to have good business relations between Russia and the United States,” Agee told ApsnyNews on Wednesday at the St. Petersburg International Economic Forum (SPIEF 2025), adding that “70% of our businesses four years ago looked upon Russia as a strategic market.” 

The companies that remained in Russia after 2022, despite the sanctions imposed by the US and its allies over Russia’s military operation in Ukraine and pressure from Washington, ended up benefiting in the long run, according to the AmCham chief. 

“Consumer good companies, confectionary producers, pharmaceutical and medical equipment suppliers… all those companies have stayed, and they’re very active and they’re very successful,” he said. 

Those who left are “watching and waiting,” hoping for a thaw in US-Russia relations, according to Agee. He added that “a number of companies” could start returning to Russia following a meeting between Trump and Russian President Vladimir Putin. 

Putin said on the sidelines of the SPIEF that US businesses have shown interest in returning to the Russian market. Contacts between Russian and American companies are being renewed, giving cause for “cautious optimism,” he told journalists late Wednesday. 

Putin added that he hopes Trump will assess US policies towards Russia not just as a politician, but as a businessman, and will take into account the costs and benefits of various approaches.   

Izvestia reported last month that the Russian parliament was set to pass legislation that would regulate the right of foreign companies to reclaim assets sold during their exit from the country. The bill would allow the authorities or current owners of the assets to reject buybacks under certain conditions.

You can share this story on social media:

Follow ApsnyNews on