Over 300 US companies doing business in Russia, defying sanctions

More than 300 US companies continue to do business in the Russian market, disregarding Washington’s strict sanctions and discouragement. They have no plans to leave the Russian market, said Mr. Anton Kobyakov, advisor to the Russian President and executive secretary of the organizing committee of the Eastern Economic Forum (EEF).

He said this in an interview with Russian news agency TASS on the sidelines of the Eastern Economic Forum held in the eastern Russian city of Vladivostok. Mr. Kobyakov said, “Despite the US administration directly prohibiting and discouraging its companies from doing business in Russia, more than 300 American companies continue to operate in our market.”

He further noted that Western investors have maintained commercial ties with Russia, and a portion of them are still actively working with Moscow. Explaining the businesses’ stance, Mr. Kobyakov said, “No one wants to leave the Russian market. Each of them understands very well the importance of this economic connection and their own business interests.” He said that although many European companies’ own governments have tried to pressure them into halting cooperation with Russia, the businesses themselves want to protect their profits.

Praising Russia’s government policy, the advisor said, “The Russian government creates no obstacles for those who have decided to stay with Russia. They are viewed on equal footing with other local Russian companies and are considered part of the Russian economy.” Although the United States and Western countries imposed strict economic sanctions on Russia following the Ukraine war, the fact that a number of top American and foreign companies have not turned away from the Russian market presents a new picture of global economic reality.