Brazil’s football star Carlos: Germany, Portugal to meet in 2017 Confederations Cup finalSport March 24, 20:45
Russia to stage best ever edition of FIFA Confederations Cup this year — Brazil’s CarlosSport March 24, 19:28
Jehovah’s Witnesses say they have no suspension orders from Justice Ministry yetSociety & Culture March 24, 19:10
Islamic State claims responsibility for attack on National Guard base in ChechnyaWorld March 24, 18:51
Eurovision organizers set to find solution for Russia's contestant to perfom in KievWorld March 24, 18:46
Russia’s Airborne Force wraps up large-scale drills in CrimeaMilitary & Defense March 24, 18:20
Russia may start Ka-52 attack helicopter deliveries to Egypt in 2nd half of yearMilitary & Defense March 24, 17:21
Ex-Russian MP’s suspected assassin’s ‘double’ pops up in UkraineWorld March 24, 16:59
Photos of the week: Putin at the theater, Trump behind the wheel and Erdogan playing ballSociety & Culture March 24, 16:39
ST. PETERSBURG, June 18. /TASS/. European sanctions have only an indirect impact on the Russian ferrous metallurgy market, in particular, due to the decrease in investment activity in the country, Severstal CEO Alexey Mordashov told TASS Thursday at the St. Petersburg International Economic Forum (SPIEF-2015).
"If we are talking about the industry, we do not see the direct effect of sanctions on ferrous metallurgy in Russia at all. Steel companies were not subject to sanctions. But indirectly we feel the effect. And the effect is in the impact on investment activity in the country. We produce investment goods, and how much people are willing to invest in projects to build houses, buy cars, is affecting demand for our products," Mordashov said.
He added that one should not overestimate the impact of sanctions. On the contrary, according to Mordashov, European sanctions stimulate the domestic Russian market to develop, for example, in terms of import substitution.