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Businessmen expect no higher capital outflow from Russia over US sanctions

March 21, 2014, 15:33 UTC+3 MOSCOW
President of the Russian Union of Industrialists and Entrepreneurs says if the situation develops in a soft mode, there will be no radical changes in trends
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MOSCOW, March 21. /ITAR-TASS/. President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin said on Friday he expected no higher capital outflow from Russia following a new wave of the US sanctions.

“I do not think there will be a serious outflow,” Shokhin told reporters. “If we speak of investment structures, they have already taken these risks into account. The outflow we have been observing for the past weeks is connected with the pressure on the ruble over a high demand for foreign currency.”

“The demand for foreign currency means the outflow,” he said. “In my opinion, the most serious shocks are already in the past. If the situation develops in a soft mode, there will be no radical changes in trends.”

Shokhin noted that in terms of capital investments and industrial production assets it was difficult to leave the market, “therefore we mainly speak of the withdrawal from the stock market."

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