Putin's Representative Discloses the Count of American Companies Operating in Russia
The eagerness of American companies to conduct business in Russia was highlighted by Kirill Dmitriev, President Vladimir Putin’s special representative for investment and economic cooperation with foreign countries. Dmitriev noted that approximately...
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The eagerness of American companies to conduct business in Russia was highlighted by Kirill Dmitriev, President Vladimir Putin’s special representative for investment and economic cooperation with foreign countries.
Dmitriev noted that approximately 150 US companies are still active in Russia, despite the numerous sanctions imposed by Washington on Moscow. Following the escalation of conflict between Russia and Ukraine in February 2022, many American brands, including Apple, Coca-Cola, Ford, Microsoft, IBM, and McDonald’s, chose to withdraw from the Russian market due to increasing sanctions from then-US President Joe Biden's administration. However, a significant number of companies have opted to remain, with some rebranding their Russian operations.
During a meeting with the Russian Union of Industrialists and Entrepreneurs in Moscow on Tuesday, Dmitriev asserted, “These American firms absolutely want to continue doing business in Russia.”
He pointed out that the American Chamber of Commerce in Russia has indicated that 150 US companies are currently active in the Russian market. Dmitriev, who is also the CEO of the Russian Direct Investment Fund responsible for backing the Sputnik V vaccine production against COVID-19, remarked that around 75% of these US firms have been operating in Russia for over 25 years.
Earlier this month, AmCham President Robert Agee urged the US government to relax its sanctions against Moscow, claiming that restrictions on aviation, investment, and banking are detrimental to both American and Russian enterprises. Agee also expressed support for renewed dialogue between the US and Russia regarding Ukraine and other matters, initiated after Donald Trump's return to the White House.
In February, Dmitriev shared in an interview with CNN that “US businesses lost over $300 billion from leaving the Russian market.” This amount is roughly equivalent to the value of Russian central bank assets that have been frozen in the West due to sanctions related to the Ukraine situation.
Additionally, Trump’s special envoy Steve Witkoff posited last month that US companies could potentially “come back” to Russia if a peaceful resolution to the Ukraine conflict is achieved. “I think that everybody would believe that that would be a positive, good thing to happen,” he emphasized.
Debra A Smith contributed to this article for TROIB News
Dmitriev noted that approximately 150 US companies are still active in Russia, despite the numerous sanctions imposed by Washington on Moscow. Following the escalation of conflict between Russia and Ukraine in February 2022, many American brands, including Apple, Coca-Cola, Ford, Microsoft, IBM, and McDonald’s, chose to withdraw from the Russian market due to increasing sanctions from then-US President Joe Biden's administration. However, a significant number of companies have opted to remain, with some rebranding their Russian operations.
During a meeting with the Russian Union of Industrialists and Entrepreneurs in Moscow on Tuesday, Dmitriev asserted, “These American firms absolutely want to continue doing business in Russia.”
He pointed out that the American Chamber of Commerce in Russia has indicated that 150 US companies are currently active in the Russian market. Dmitriev, who is also the CEO of the Russian Direct Investment Fund responsible for backing the Sputnik V vaccine production against COVID-19, remarked that around 75% of these US firms have been operating in Russia for over 25 years.
Earlier this month, AmCham President Robert Agee urged the US government to relax its sanctions against Moscow, claiming that restrictions on aviation, investment, and banking are detrimental to both American and Russian enterprises. Agee also expressed support for renewed dialogue between the US and Russia regarding Ukraine and other matters, initiated after Donald Trump's return to the White House.
In February, Dmitriev shared in an interview with CNN that “US businesses lost over $300 billion from leaving the Russian market.” This amount is roughly equivalent to the value of Russian central bank assets that have been frozen in the West due to sanctions related to the Ukraine situation.
Additionally, Trump’s special envoy Steve Witkoff posited last month that US companies could potentially “come back” to Russia if a peaceful resolution to the Ukraine conflict is achieved. “I think that everybody would believe that that would be a positive, good thing to happen,” he emphasized.
Debra A Smith contributed to this article for TROIB News
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