MOSCOW, April 15. /TASS/. The imposition of sanctions on Russia’s state debt will not cause big problems, Executive Vice-President of the Russian Union of Industrialists and Entrepreneurs Alexander Murychev told TASS.
"As for the imposition of sanctions against the Russian public debt, personally, I do not see any big problems. The debt will become cheaper then - this is obvious. Non-residents with big losses will sell our public debt, which will be bought by Russian commercial banks," the expert said.
According to him, if banks lack liquidity, they will be able to obtain the necessary resources from the Bank of Russia.
"If there is not enough liquidity, the Central Bank will support commercial banks with resources," he said.
Murychev also noted that in his opinion, those companies that have invested in the Russian economy are unlikely to refuse to work in the Russian Federation.
"Of course, someone can refuse this. But I don’t think the players who have been in Russia for a long time, who invested in fixed assets, in production, will lose their share in our market," he said.
The expert also noted that politics is changeable but business is business.
"It is important for business to make a profit. If someone has a strong niche in the market, I think they will hold on," the representative of the Russian Union of Industrialists and Entrepreneurs stressed.
US President Joe Biden signed an executive order to impose sanctions on Russia on April 15. Particularly, the United States prohibits its companies from directly acquiring Russian debt liabilities issued by the Central Bank, the National Wealth Fund and the Finance Ministry after June 14, 2021.