The head of the American Chamber of Commerce assessed which businesses are considering returning to Russia.

Major American energy and IT companies are interested in returning to Russia, Robert Agee, president of the American Chamber of Commerce, told the RBC television channel. It's too early to say they'll return tomorrow, he emphasized. These companies are simply waiting in line—they're watching, thinking, and evaluating the terms of their return.

Agee believes that several conditions must be met for American businesses to return to Russia. First and foremost, this means signing a peace agreement on Ukraine and lifting sanctions. According to Agee, approximately 20% of American companies leaving Russia in 2022–2023 did so with an option to later repurchase their assets. These agreements expire in 2026–2027. Speaking about restrictions on foreigners exercising options being discussed in Russia, Agee emphasized: "I understand that this is a very emotional situation. This particular company sold its shares and is buying them for nothing, but I would say the opposite: we're allowing this company to buy these assets and return. This, again, will symbolize that Russia is open for business."

Agee specifically noted the situation surrounding ExxonMobil, which Russian President Vladimir Putin authorized by decree, signed on the eve of the Alaska summit, to return its stake in the Sakhalin-1 oil and gas project. "I think this signal will be received positively," Agee said. While it's not clear yet that ExxonMobil is ready to return, "it's a very good, positive signal"—a sign for American businesses that there will be "good support for their return."

In March, Agee told RBC that the "sense of optimism" among American companies was now "higher than three months ago," and also stated that he would submit a report to the American government with proposals on which sanctions and restrictions should be lifted first.

"This is an analysis conducted over many months about the problems American companies have faced over the past three years and which sanctions have hit them the hardest," he noted. The American Chamber of Commerce then called for the lifting of sanctions in the aviation sector, the ban on investment by US companies, and sanctions against Russian banks, as the current restrictions had increased the cost of doing business severalfold.

In June 2025, the Association of European Businesses (AEB) presented a study, “Strategies and Prospects for the Activities of European Companies in Russia,” which, among other things, listed the obstacles to foreign business activities in Russia.

Foreign companies cite restrictions related to US and EU sanctions and Russia's retaliatory measures, as well as geopolitical uncertainty, as the most significant obstacles. 87% of companies have been affected by sanctions to some extent (vs. 80% in 2024 ). The most negative impact on business was caused by sanctions against Russian banks, export and import restrictions , the freezing of Russia's foreign exchange reserves, disconnection from SWIFT, and restrictions on transport connections and software use.