Abstract. The article presents the results of a survey of the heads of structural divisions of large German companies operating in Russia – on the outcome of their activity in 2015 and expectations for 2016. In general, the German top managers state the continuing deterioration of the situation in the Russian market and do not expect that it will turn for the better, but define the state of their business in Russia mainly as satisfactory. The paper also presents data on the main problems of the Russian market, the most promising sectors and regions.