US Chamber of Commerce in Russia pushes for easing sanctions in key sectors

The American Chamber of Commerce in Russia is drafting a comprehensive report urging the US government to lift sanctions that have severely impacted investment, aviation, finance, and trade, according to Chamber President and CEO Robert Agee.

Speaking to RBC, Agee revealed that the Chamber is finalizing a "white paper" — a policy recommendation document — outlining the struggles American businesses have faced over the past three years due to US sanctions, per Caliber.Az.

“We are now preparing a so-called white paper for the US government, which I hope to present to the United States. It is an analysis, which has been conducted for many months, about what problems American companies have faced over the past three years, from which sanctions have suffered the most,” Agee explained.

A key priority in the report is the removal of aviation-related sanctions, particularly those restricting spare parts and aircraft maintenance. “This is less of a business wish and more of a humanitarian necessity, as ordinary citizens suffer first of all,” Agee emphasized.

The Chamber is also advocating for the lifting of investment bans on American companies, which Agee says have discouraged US businesses from engaging with the Russian market. Additionally, the report highlights the unintended consequences of sanctions on luxury goods, including cosmetics. Many US firms have lost market share in this sector, he noted.

Another critical point in the proposal is the call to lift financial sanctions on Russian banks, which have disrupted cross-border transactions. “Such a solution will reduce the cost of doing business for both Russian, American and other foreign companies. Because of the current restrictions, the cost of doing business has increased several times,” Agee stated.

The Chamber has also partnered with the Franco-Russian Chamber of Commerce and Industry to launch the “Two Continents Initiative,” aiming to coordinate a joint stance on sanctions relief.

While the white paper is still in the works, Agee hopes its findings will reach U.S. decision-makers and spark a reassessment of economic restrictions that, in his view, are harming both businesses and consumers alike.

By Tamilla Hasanova