Title for Episode VIII of world’s famous saga ‘Star Wars’ revealedSociety & Culture January 23, 21:19
Russia’s chief negotiator: Astana format gives hope for new level in negotiating processRussian Politics & Diplomacy January 23, 20:52
Astana talks focusing on mechanism of Syria ceasefire observance — oppositionWorld January 23, 20:23
Russia and Turkey hit Islamic State targets near al-Bab in Aleppo provinceWorld January 23, 20:06
Russia’s 4th Yasen-class submarine completes hydraulic testsMilitary & Defense January 23, 18:56
Arctic airport in search for investorsBusiness & Economy January 23, 18:50
Rosneft begins Arctic shelf’s seismological exploration from 2017Business & Economy January 23, 18:38
Tesla takes the lead in sales of electric cars in Russia in 2016Business & Economy January 23, 18:18
Politician says European-style reforms to degrade Ukraine’s economyWorld January 23, 18:16
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.