US Chamber of Commerce in Russia readies proposals on sanctions relief

The American Chamber of Commerce in Russia (AmCham Russia) is preparing a report for the U.S. government recommending easing certain sanctions against Russia, pro-Kremlin outlet RBC reported on March 7, citing chamber chief Robert Agee.

The proposed recommendations focus on lifting restrictions on the aviation and banking industries, investments, and luxury goods shipments. Agee argued that such measures would help American businesses regain "lost market share" and "reduce operational costs in Russia."

AmCham is a business association that represents U.S. companies operating in Russia. It promotes economic engagement despite strained relations between the two countries.

This development follows U.S. President Donald Trump's statement on Feb. 25 that sanctions on Russia will be lifted "at some point" but not before a peace deal is reached.

His administration has renewed diplomatic contact with Moscow, engaging in direct talks on the war in Ukraine, the reopening of embassies, and economic cooperation.

The primary focus of the chamber's request concerns the aviation sector, particularly the supply of spare parts and aircraft maintenance.

Additionally, AmCham Russia seeks to lift the U.S. investment ban imposed in 2022, which currently allows only maintenance operations but prohibits new investments.

Another key area of concern is the banking sector, with Agee saying that lifting financial restrictions would facilitate cross-border payments and "ease the cost of doing business."

The chamber also advocates removing restrictions on luxury goods, including cosmetics, perfumes, clothing, and footwear priced above $300 per unit.

Despite these discussions, Trump extended some existing sanctions on Russia until March 6, 2026, according to a decree published in the Federal Register on Feb. 28.

Russian President Vladimir Putin instructed his Cabinet of Ministers on Feb. 21 to prepare for the return of Western companies, saying Russian firms should have "certain advantages" over those re-entering the market.

Sanctions against Russia remain a key tool of international pressure, Ukraine's Deputy Prime Minister and Justice Minister Olha Stefanishyna said on Feb. 19.

Stefanishyna expressed uncertainty regarding the U.S. position and its next steps but appeared confident in the EU's commitment to upholding sanctions.

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The Kyiv IndependentTim Zadorozhnyy