Kvyat to race at home F1 GP in Sochi with new helmet design depicting him riding torpedoSport April 27, 21:43
Maria Sharapova gets into quarterfinal of tournament in StuttgartSport April 27, 21:16
Russia, Japan to hold bilateral year of culture in 2018World April 27, 20:49
Angela Merkel’s visit to Moscow – pragmatism above all elseRussian Politics & Diplomacy April 27, 19:18
Japanese businessmen and officials to visit South Kuril Islands in summerWorld April 27, 18:46
Putin, Abe call for quickest restart of talks on Korean settlementRussian Politics & Diplomacy April 27, 18:32
Russian diplomat accuses White Helmets of supporting terrorismRussian Politics & Diplomacy April 27, 17:54
Putin's spokesman warns against attempts to hold unauthorized rallies in MoscowRussian Politics & Diplomacy April 27, 16:43
Russian Foreign Ministry says situation on Korean Peninsula is degradingRussian Politics & Diplomacy April 27, 16:42
On July 16, the US Department of the Treasury imposed a ban on issuing mid-term and long-term credits to NOVATEK, Rosneft, Vneshekonombank and Gazprom as part of the “third wave” of sanctions against Russia over the Ukraine crisis.
“These sanctions are not full. We have the right to work and sell our products both in the West and East,” Timchenko told ITAR-TASS admitting, however, that the US sanctions would certainly create financing problems for the company.
According to him, the problem is not so much in the inability by NOVATEK to borrow loans from US banks.
“The thing is that the global financial system is based on the dollar, and it will continue to be this way for quite a long period of time. But the first signs that one day it may change are already appearing,” the Russian businessman went on to say.
“Perhaps, one day we are going to switch over to the yuan. China is a strong country, which can take up the torch from the United States,” Timchenko, who himself has been under the US sanctions since 2014, said.
He explained that individual sanctions imposed personally against him and sanctions imposed against NOVATEK will have different consequences for US citizens.
“In case of individual sanctions, Americans have no right to have any kind of contacts with me. However, sanctions imposed against NOVATEK will not apply to the company’s US staff,” Timchenko said in conclusion.