"300 American companies are currently operating in Russia"

A Russian business forum will be held in Washington in September, Robert Agee, head of the American Chamber of Commerce in the Russian Federation (AmCham), told Izvestia at SPIEF 2026. Kirill Dmitriev, the special representative of the President of Russia, may also take part in it. The parties are currently working together to lift economic sanctions. According to Agee, the priority is to lift the ban on investments. The representative of the US business considers the restrictions concerning the aviation industry to be a mistake. Currently, 300 American companies continue to operate in Russia. Which of them are the most successful and which of those who have left can return to Russia at the first opportunity, in an exclusive interview with Robert Agee to Izvestia.

"There is a ban on investments — it really hinders us"

— A number of American companies would like to return to the Russian market. In which sectors do these organizations primarily operate?

— I would not say that there is a queue of companies ready to return to the Russian market immediately. But the companies are really monitoring the situation, they are in contact with us. This is especially true for companies in the energy sector — oil, gas, aviation, high-tech.

They study the market, the laws, the rules that are provided by the Russian government for their return. But, of course, this requires a peace agreement (on the settlement of the Ukrainian conflict. — Ed.). We need some kind of signal from Washington. Because without the lifting of sanctions and this "green light" there will be no mass return in the near future.

— You said that you applied directly to the US administration regarding the lifting of sanctions. Is there any reaction?

— The reaction is always the same. When there is a peace agreement, then we will begin to lift sanctions. We are trying to convince the administration to remove at least some restrictions immediately. There is a ban on investments, which hinders us a lot, because there is a similar ban on dividends from the Russian side. There are the greatest prospects for lifting sanctions here. This is our number one priority.

The same aviation safety. We also consider sanctions in this area to be a mistake. This is inherently illegal and wrong. After all, it should be possible to sell aircraft parts and provide [technical] support to aircraft. We are trying to convince the administration to lift such sanctions before a peace agreement is reached.

— In your opinion, are there any prospects that sanctions will be lifted in these areas before the agreement?

— We are working on it, we are trying. To do this, you need to visit Washington more often. [Special Representative of the President of the Russian Federation] Kirill Dmitriev and I are probably the only two people on the planet who are trying to achieve this.

— Do you have a meeting scheduled with Kirill Dmitriev in the near future?

— We wanted to go there in September. There is one event that I am invited to speak at. Let's see if this September trip will take place. This is the Russian forum, which is scheduled for September. In Washington.

"Moscow is the safest city"

— Do those American companies that are considering returning to the Russian market expect any special conditions? For example, some benefits or guarantees for the security of their assets?

— As for the benefits, not particularly. They see that the Russian market is big and interesting. They know this market well and have always been very successful here. The main thing is really guarantees. We mostly get questions related to external management. This scares companies a lot — there have already been cases when American or European companies have lost their assets. There are also standard questions about transparency of processes, laws, and security. Very often people ask: "Is Moscow a safe city or not?" I always smile about it and say, "Listen, this is the safest city, don't worry about it at all." I've been living here for a long time, there have been no problems. But I think they just notice something on television and then interpret it in a certain way.

— Do you think that the American automotive industry and manufacturers of industrial equipment have finally lost the Russian market in competition with Chinese companies?

— No, I would not say that it is final. Yes, they naturally lost the market. 70% of the new car fleet comes from China. But American and European cars are popular among Russians, despite the fact that China has grown enormously over the past two or three years. There's still room for competitors. And the more manufacturers will sell cars, the lower the prices, the more choice for buyers. It's good for everyone.

"I think they'll be back."

— Does the American car industry have any long-term plans for the Russian market?

— Again, I think it depends on the lifting of sanctions and the very "green light" from Washington. They have always understood that this is a good and promising market. I think they'll be back.

— In your opinion, which companies from which areas could be the first to return?

— As I said, several high-tech companies are exploring the market. Some oil workers, aviation, industrial equipment, oil. One of the major exports from the USA was industrial oil. You can start selling such products tomorrow if you have the opportunity.

— Are there representatives of these companies here now, at the St. Petersburg International Economic Forum?

— There are representatives of those companies that work here. There are many of our companies here. I've already seen 25-30 for sure.

— And what companies are still operating in Russia now, besides those involved in the food industry and pharmaceuticals?

— There are many companies operating. Of course, after the sanctions, there are still those who work in the humanitarian field. Food production, pharma, medical equipment.

"The remaining companies do not plan to leave"

— And how many American companies are operating in Russia now? Are any of them planning to expand?

— We currently have 300 American companies operating in Russia. I would not say to expand directly, because for this we, again, need to lift sanctions. Nevertheless, many companies are in contact with us, and I think some will return in the near future.

— Does AmCham record massive refusals by American corporations from the final sale of their mothballed production sites in Russia to local investors?

— The remaining companies have been here for 30-35 years. Their total investment level is about $100 billion. This is a big investment. They have achieved significant success and have spent a lot of time developing the market. Therefore, an asset cannot be sold just like that. Firstly, its cost will not be very high. And secondly, they feel good here. Therefore, the remaining companies do not plan to leave.