We analyze spectra of V838 Mon and V4332 Sgr taken in 2004-2005 using the 6m telescope of the Special Astrophysical Observatory with the UAGS and SCORPIO spectrographs. We conclude based on spectroscopy combined with archive photographs and modern CCD photometry that both peculiar red novae were binaries prior to their outbursts, and contained blue hot components that exploded. The secondary of V838 Mon is a hot B3V star, and that of V4332 Sgr is a cool M7 star.