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European business fears new Russian sanctions - European Business Association

August 13, 2014, 23:54 UTC+3 MOSCOW
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MOSCOW, August 13, /ITAR-TASS/. The Association of European Business (AEB) fears that Russia will retaliate with new protectionist measures in aircraft-building, shipbuilding and other sectors.

The European Business Association comprises more than 600 European and international companies operating in Russia, including global companies that operate in sectors which can fall under this kind of restrictions.

The AEB believes that the measures may seriously cut the output and jobs not only among producers but also among dealers and suppliers.

Russian Prime Minister Dmitry Medvedev said last week that the Russian government was thinking of introducing additional protectionist measures in aircraft building, shipbuilding and other sectors after the first package of sanctions against agricultural imports from countries which had earlier imposed sanctions against Russia.

The AEB has urged the authorities in Russia and the European Union to refrain from further economic sanctions and find a diplomatic solution to the conflict.

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