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Sanctions can harm Russian education, science — former finance minister

May 29, 2014, 20:04 UTC+3 ARKHANGELSK

Alexei Kudrin says anti-Russian sanctions will diminish scientific exchange, especially in high technologies and innovations

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Alexei Kudrin

Alexei Kudrin

© ITAR-TASS/Sergei Bobylev

ARKHANGELSK, May 29. /ITAR-TASS/. Anti-Russian sanctions and a cool-down in relations with the West can have an adverse effect on the Russian education system, science as well as high technologies and innovations, head of the Committee on Civil Initiatives, former Russian Finance Minister, Alexei Kudrin told ITAR-TASS on Thursday.

The sanctions have not yet affected the Russian education and science but in all likelihood will diminish scientific exchange, especially in high technologies and innovations, as well as in supplies of cutting-edge equipment and technologies that can be included on sanction lists, which can delay modernization of the Russian industry, believes Kudrin.

Kudrin predicts anti-Russian sanctions will put off foreign investors.

“Private foreign investments go hand in hand with new technologies. For instance, Western companies such as Siemens invest in new projects and, as a rule, bring their latest technologies and train engineers. Such investments always promote new technologies,” said Kudrin.

Such investments now decelerated, Kudrin added.

“It is hard to estimate how deep the impact will be, but unfortunately, it will be negative,” he said.

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