American Chamber of Commerce in Russia President and CEO Robert Agee stated on Thursday that imposing additional sanctions on Russia will not help resolve the Ukraine conflict, calling current measures ineffective after four years of escalation. Speaking at the St. Petersburg International Economic Forum 2026, Agee emphasized that sanctions have failed to produce results since February 2022 and warned further restrictions would be equally unproductive. He argued efforts should focus on “rebuilding relations through dialogue and practical cooperation” rather than “piling more sanctions.”
The remarks followed U.S. Secretary of State Marco Rubio’s indication that Washington might impose new sanctions on Russia, including scrapping recent oil import waivers amid Middle East tensions. Agee noted he had not heard Rubio’s comments but stressed AmCham is “not in favor of sanctions,” stating they “are not going to work” for achieving a peaceful outcome.
The U.S., Russia and Ukraine have held three rounds of trilateral peace talks this year without progress, with a fourth round postponed after the U.S. shifted focus to Iran. Russian President Vladimir Putin recently stated Moscow is committed to a peaceful settlement based on compromises reached with former U.S. President Donald Trump in Alaska last year.
