The maker of Tide detergent and Gillette razors plans to invest around $50 million in its two plants in 2018, Sotirios Marinidis, P&G's head for Eastern Europe and Central Asia, said.
"We are committed to the market, we are committed to the Russian consumers. Until today we have invested roughly $800 million and counting," Marinidis told Reuters.
"I think that's in the interest of both the U.S. and Russia to continue to have good business relationships going forward. That's all I can hope for and if something different happens, we need to deal with it," he said in an interview.
Russia's lower house of parliament this week approved a bill that would give the government authority to ban trade in certain items with countries deemed to be unfriendly to Moscow, in response to a new round of U.S. sanctions.
Lawmakers are also debating legislation that would make it a crime for a Russian citizen to comply with the U.S. measures.
Marinidis said he hoped the situation would not deteriorate to the point where P&G cannot serve consumers.