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Sanctions have no effect on Boeing's Russian projects — company official

September 22, 2014, 13:53 UTC+3 YEKATERINBURG

Boeing continues cooperating with financial and credit organizations and industrial enterprises in a normal regime

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YEKATERINBURG, September 22. /ITAR-TASS/. US aerospace giant Boeing continues working with Russian partners saying that the Western sanctions against Moscow have not hampered bilateral business projects, the company’s communications director for Russia/CIS said on Monday.

“We continue cooperating in a normal regime with financial and credit organizations and industrial enterprises, such as Sberbank and VSMPO-AVISMA Corporation,” Elena Alexandrova said.

Vnesheconombank (VEB) CEO Vladimir Dmitriev told reporters during the Sochi Investment Forum last week that Western sanctions could affect the supplies of new Boeing and Airbus aircraft to Russian companies.

In remarks to the statement, Alexandrova said: “We are not commenting on this situation. These are the concerns of VEB. I stress again that we are working in a normal regime in Russia.”

Earlier on Monday, a spokesperson for Russia’s VSMPO-AVISMA Corporation, the world’s largest titanium producer, said the sanctions have also not affected the company’s projects with Boeing.

VSMPO-AVISMA is owned by Russian state-owned industrial corporation Rostec, whose CEO Sergey Chemezov was targeted by Western sanctions in late April for Russia's alleged role in the Ukrainian crisis.

Western sanctions against Russia

The United States and the European Union have imposed several rounds of sanctions against Russia since March over its stance on the conflict in Ukraine. Moscow responded by introducing a one-year ban on imports of selected foods from sanctioning countries (the EU, US and several others) in early August.

In mid-September, Brussels introduced further sanctions, for the first time targeting directly the financing of the state-owned oil sector, which is crucial to the Russian economy. The United States similarly strengthened its sanctions, adding Russia’s largest bank, Sberbank, and energy giant Gazprom to the list of targeted companies.

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