Support The Moscow Times!

American Businesses in Russia Are Struggling After U.S. Sanctions, Survey Says

Aleksander Avilov / Moskva News Agency

U.S. sanctions have created new difficulties for American businesses working in Russia, a recent survey of companies has said.

Last month, the United States sanctioned several Russian companies and businessmen for alleged meddling in the 2016 U.S. election and other "malign activities." Russia vowed to inflict “precise and painful” damage to the U.S. in response, this week passing a bill granting the Kremlin the power to decide which foreign products from “unfriendly” countries to restrict from the Russian market.

One out of four American companies put new projects in Russia on hold while more than one-third said they face disadvantages because of U.S. sanctions, the RBC business outlet cited an annual American Chamber of Commerce in Russia survey as saying Thursday.

The sanctions negatively affected the plans of 84 percent of the surveyed companies, RBC said.

Head of AmCham Russia told RBC that business dialogue continues despite “threats of new sanctions on both sides.”

Despite the difficulties, most American companies remain upbeat and expect the strategic Russian market to recover in three years despite a bleak geopolitical outlook, RBC cites Ernst & Young auditor’s managing partner for Russia, Alexander Ivlev.

72 companies including Apple Rus, Coca-Cola HBC Eurasia and ExxonMobil took part in the AmCham Russia survey conducted in April.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more