American businesses are waiting for the lifting of Ukraine-related sanctions, Chamber of Commerce chief Robert Agee has noted
US energy and IT giants are interested in returning to the Russian market but a peace deal must be reached and sanctions lifted before that is possible, the head of the American Chamber of Commerce in Russia has said.
Robert Agee’s comment came after Monday’s White House meeting that brought together US President Donald Trump, Ukraine’s Vladimir Zelensky, and Kiev’s key Western European backers. The gathering followed last week’s summit in Alaska between Russian President Vladimir Putin and Trump.
In an interview with Russian business daily RBK on Wednesday, Agee said it is too early to suggest that US companies will return immediately. “They’re just waiting in line, they’re watching, thinking,” he noted, explaining that firms are still assessing the conditions for a potential comeback.
Agee also welcomed a recent decision by Putin to allow US energy giant ExxonMobil to reclaim its stake in the Sakhalin-1 energy project. While it is not yet ready to return, he said the move sends a clear message to American businesses.
“I think this signal will be positively received,” he said, calling it “a very good, positive signal” and an indication that there could be “strong support for a return.”
According to Agee, about 20% of US companies that exited the Russian market in 2022-2023 secured buyback options for their assets. Most of those agreements are set to expire in 2026 or 2027.
Many international businesses pulled out of Russia due to the unprecedented Western sanctions imposed after the escalation of the Ukraine conflict in 2022. Others left to avoid the risk of secondary sanctions or broader international pressure.
Earlier this year, Putin ordered the government to draft regulations for Western firms seeking to return to the Russian market. The proposed framework is intended to ensure adequate protection for domestic businesses.
