Trump Seeks to Restore U.S.-Russia Business Ties

(MENAFN) American companies are expressing strong support for the Trump administration’s renewed push to reopen communication channels with Moscow, hoping this will pave the way for their return to the Russian market, Robert Agee, president of the American Chamber of Commerce in Russia (AmCham), told media.

Since President Donald Trump took office in January, AmCham has been backing his initiatives aimed at rebuilding ties with Russia and has persistently urged Washington to relax sanctions imposed on Russia.

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

Despite US and allied sanctions linked to Russia’s military actions in Ukraine, some American companies chose to remain in Russia and, according to Agee, they have ultimately benefited.

“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 explained.

Those firms that exited the Russian market are reportedly “watching and waiting,” eager for a shift in US-Russia relations that could encourage their return, Agee noted. He suggested that following a planned meeting between Trump and Russian President Vladimir Putin, “a number of companies” might begin to re-enter Russia.

Speaking at SPIEF, Putin acknowledged the renewed interest of US businesses in the Russian market and described ongoing talks between Russian and American companies as a reason for “cautious optimism.”

He voiced optimism that Trump would approach U.S. policy on Russia with the mindset of a businessman rather than solely a politician, thoughtfully assessing the trade-offs and advantages of different strategies.

Meanwhile, a news agency reported last month that the Russian parliament was preparing to pass new legislation regulating foreign companies' rights to reclaim assets they sold upon leaving Russia. The proposed law would permit authorities or current asset holders to refuse buyback requests under certain circumstances.

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