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Sanctions against Russia is US tool in struggle for markets — Commerce Chamber

August 03, 16:12 UTC+3 MOSCOW

The new law is an excellent weapon for expansion of the US oil and gas business on the European markets, President of the Russian Chamber of Commerce and Industry Sergei Katyrin said

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MOSCOW, August 3. /TASS/. US sanctions against Russia are a tool in a competitive struggle for markets, President of the Russian Chamber of Commerce and Industry Sergei Katyrin said on Thursday.

"The US sanctions is a highly efficient tool for the competitive struggle for markets, rather than for the political pressure on Russia, and they should be treated exactly this way," Katyrin said. "Purely political goals were very rarely achieved by sanctions but economic advantages - fairly often," he said.

"The new law is an excellent weapon for expansion of the US oil and gas business on the European markets, whose businessmen will be punished by Washington for cooperation with Moscow in the energy sphere," the expert said. "Industrial and economic policy is actually the case in point," he said.

Russian should not hasten with response, Katyrin said. "Firstly, everything is just starting; Europe will have now to sort things out with its strategic partner. Secondly, we need to look at developments and respond in line with emerging situation, he said. "There is absolutely no need to respond in pure economic way, considering our business relations being far from too active and a strong difference in ‘weight classes.’ More sensitive spheres for Washington exist," the expert added.

US President Donald Trump signed the bill envisioning tougher sanctions against Russia, Iran and the DPRK on August 2. Trump said in a statement on the occasion of signing of the law the document was flawed and some of its provisions stood at variance with the US Constitution.

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