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Russian official admits US sanctions will delay arrival of foreign companies in Crimea

September 02, 2016, 9:49 UTC+3 VLADIVOSTOK

According to the president of the Russian Union of Industrialists and Entrepreneurs, foreign companies won't be scared away but many decisions will be delayed

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© Sergey Bobylev/TASS (archive)

VLADIVOSTOK, September 2. /TASS/. New US sanctions will slow down the arrival of foreign companies in Crimea, Alexander Shokhin, the president of the Russian Union of Industrialists and Entrepreneurs (RSPP) has told TASS.

"It’s not that it will scare them away, but it will delay many decisions (of foreign companies - TASS) on working with Russia, the more so with Crimea," he said.

According to Shokhin, the expansion of sanctions is a single direction of Washington’s policies. "The US sanctions are extended and expanded under the same criteria. This is not a new wave of sanctions. This is an attempt to prevent the companies and elites that have already been sanctioned from escaping sanctions," he explained.

Shokhin added that some time ago there was a feeling that the sanctions regime against Russia will not tighten. However, the expansion of Washington’s sanctions confirms that the US will adhere to the original mechanism of imposing restrictions on Russian companies. "Many (foreign) companies willing to work in Crimea will be on the lookout," he said.

The US government earlier again expanded the list of Russian individuals and legal entities subject to unilateral US economic sanctions over the Ukrainian conflict.

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