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Western sanctions inconvenient, but not problematic for Russia shipbuilding corporation

September 24, 2014, 15:08 UTC+3 MOSCOW
Payments in US dollars are impossible for Russia's United Shipbuilding Corporation
1 pages in this article
© ITAR-TASS/Sergei Medvedev

MOSCOW, September 24. /ITAR-TASS/. Western sanctions pose “some inconvenience”, but not problems for Russian major United Shipbuilding Corporation, corporation’s president Alexey Rakhmanov said on Wednesday.

Sanctions resulted in an intention by a Finnish bank to close accounts of a Finnish branch of the corporation.

“Payments in US dollars are impossible for us today, and that actually creates some inconvenience,” Rakhmanov said, adding that instead of dollars the corporation uses euro and other foreign currencies.

Meanwhile, American Express bank cards were annulled for two managers of the corporation, the corporation’s head said. The United Shipbuilding Corporation does not have any other problems due to sanctions, Rakhmanov noted.

Ties with traditional partners unaffected

Alexei Rakhmanov also noted, that western sanctions are not hampering the military and technical cooperation of Russia’s United Shipbuilding Corporation (USC) with its traditional partners.

Russia’s main traditional partners in the military and technical sector are the former Soviet republics and the Asia-Pacific Region states (India, Vietnam and China) as well as the countries that do not support the West’s sanctions against Russia (Algeria and Latin America states), he said.

“All the earlier reached contracts with them are being fulfilled, and there have been no refusal cases,” Rakhmanov added.

Despite the sanctions, a range of countries, which earlier bought Russian equipment, have shown interest towards the products of the United Shipbuilding Corporation at the international exhibitions, he said.

The head of Russia’s Federal Service for Military-Technical Cooperation, Alexander Fomin, said in late March Russia could expand the supplies of military products to Latin American countries, taking into account the growing interest of the potential partners.

In mid-July, the BRICS group that consists of Brazil, Russia, India, China and South Africa condemned the Western sanctions against Russia saying this comes “in violation of international law and universally recognized norms of international relations.

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