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Putin’s envoy unveils amount of US companies still working in Russia
(MENAFN) Despite multiple rounds of sanctions imposed by Washington, approximately 150 American companies continue to do business in Russia, according to Kirill Dmitriev, President Vladimir Putin’s special representative for investment and economic cooperation.
Speaking at a meeting of the Russian Union of Industrialists and Entrepreneurs in Moscow on Tuesday, Dmitriev stated that many U.S. firms remain active in Russia, with some maintaining operations under different branding. He emphasized that these businesses “absolutely want to continue doing business in Russia.”
According to the American Chamber of Commerce in Russia (AmCham), around 150 U.S. companies are still present in the Russian market. Dmitriev, who also heads the Russian Direct Investment Fund, noted that 75% of these firms have been operating in the country for over 25 years.
While major corporations such as Apple, Coca-Cola, Ford, Microsoft, IBM, and McDonald’s exited Russia following the escalation of the Ukraine conflict in 2022, others opted to stay despite increasing sanctions under then-President Joe Biden’s administration.
AmCham President Robert Agee recently urged the U.S. government to ease restrictions on sectors such as aviation, investment, and banking, arguing that they harm both American and Russian businesses. Agee also welcomed renewed diplomatic engagement between Washington and Moscow after Donald Trump’s return to the White House.
In February, Dmitriev told CNN that U.S. companies had suffered losses exceeding $300 billion due to their withdrawal from Russia—an amount comparable to the value of Russian central bank assets frozen in Western nations.
Trump’s special envoy Steve Witkoff recently suggested that American firms could return to the Russian market if a peace agreement is reached in Ukraine, calling such a development a “positive and good thing.”
Speaking at a meeting of the Russian Union of Industrialists and Entrepreneurs in Moscow on Tuesday, Dmitriev stated that many U.S. firms remain active in Russia, with some maintaining operations under different branding. He emphasized that these businesses “absolutely want to continue doing business in Russia.”
According to the American Chamber of Commerce in Russia (AmCham), around 150 U.S. companies are still present in the Russian market. Dmitriev, who also heads the Russian Direct Investment Fund, noted that 75% of these firms have been operating in the country for over 25 years.
While major corporations such as Apple, Coca-Cola, Ford, Microsoft, IBM, and McDonald’s exited Russia following the escalation of the Ukraine conflict in 2022, others opted to stay despite increasing sanctions under then-President Joe Biden’s administration.
AmCham President Robert Agee recently urged the U.S. government to ease restrictions on sectors such as aviation, investment, and banking, arguing that they harm both American and Russian businesses. Agee also welcomed renewed diplomatic engagement between Washington and Moscow after Donald Trump’s return to the White House.
In February, Dmitriev told CNN that U.S. companies had suffered losses exceeding $300 billion due to their withdrawal from Russia—an amount comparable to the value of Russian central bank assets frozen in Western nations.
Trump’s special envoy Steve Witkoff recently suggested that American firms could return to the Russian market if a peace agreement is reached in Ukraine, calling such a development a “positive and good thing.”
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