American companies are seeking to secure the full repatriation of revenues from dividends that currently remain frozen in Russia in special accounts, before any agreement to end the conflict in Ukraine is reached. As the president and CEO of the American Chamber of Commerce in Russia (AmCham), Robert Agee, told the Izvestia newspaper, the dividend issue is expected to be one of the key topics in future negotiations between Russia and the US on economic cooperation. AmCham also estimates that the American authorities could lift the ban on investing in Russia, although it recognizes that such a step is likely to occur only after an agreement on Ukraine has been reached.
Frozen dividends at the center of talks
In their dialogue with the Russian authorities, American businesses consider resolving the issue of transferring dividends that remain in special Type-C accounts to be a top priority. Representatives of the American Chamber of Commerce in Russia told Izvestia that the organization hopes there can be progress on this specific issue even before definitive political agreements to resolve the Ukrainian crisis are achieved.
"On behalf of our members, we continue to raise our concerns about this situation with the Russian authorities and remain open to dialogue so that the situation improves for foreign businesses that have remained in the Russian market," stated Robert Agee. "We also believe that the issue of dividend payments will be one of the key topics in the negotiations between Russia and the United States on economic cooperation," he added.
Washington keeps investments frozen
The main priority for AmCham is the lifting of the American ban on investments in Russia, which, according to the organization, is simultaneously the greatest concern for US businesses. "Because of this ban, American companies continue to suffer losses in profits, market share, and brand value. They cannot finance the expansion of their activities and are losing ground to competitors from other countries," Agee noted.
"From the perspective of American business interests, we are confident that immediately after a peace agreement for Ukraine is reached, this ban will be lifted, as it hurts American companies more than Russian ones," he added.
American brands see potential return to Russia
AmCham told Izvestia that the interest of American companies remains at a level of "cautious optimism." Companies and brands that previously departed from the Russian market continue to extend their trademark usage rights through the Federal Service for Intellectual Property (Rospatent). According to AmCham President and CEO Robert Agee, several of these companies are ready to return to the Russian market as soon as the first available opportunity arises.
www.bankingnews.gr
Σχόλια αναγνωστών