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New sanctions against Russia are unlikely to help Ukraine — PM

July 17, 2014, 21:16 UTC+3 MOSCOW
US media has published a statement in which US entrepreneurs voiced their concern with a possibility of retaliation by Russia if Washington would impose tougher sanctions
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© ITAR-TASS/Yekaterina Shtukina

MOSCOW, July 17. /ITAR-TASS/. Russian Prime Minister Dmitry Medvedev said on Thursday that US sanctions imposed against separate Russian industries and enterprises would lead to “further growth of anti-American and anti-European sentiment” in Russia.

“The Russian society will get more consolidated against “those countries and people that are trying to restrict our country and are acting against the national interests of its citizens,” Medvedev said, adding he was convinced that a new series of sanctions against Russia were unlikely to help Ukraine in no way.

Commenting on a new wave of US sanctions, Russian President Vladimir Putin said that sanctions had a tendency to have ”boomerang effect.”

The European Business Association has issued a statement saying that the expansion of sanctions could affect the business of European companies and the economic growth of not only Russia but also Ukraine.

A US business newspaper, the Wall Street Journal, has published a statement of the National Association of Industrialists in which the organizations of US entrepreneurs voiced their concern with a possibility of retaliation by Russia if Washington would impose tougher sanctions than the European Union.

Igor Sechin, president of the Rosneft oil company, believes that the US sanctions mechanism is going to miss its own target. The US decision will, first and foremost, damage the interests of US shareholders and partners who have come under the sanctions imposed against Russian enterprises.

Russian Vice-Premier Dmitry Rogozin, who oversees the Russian defense industry, regards the new US sanctions against Russian defense enterprises as an attempt of dishonest rivalry in the global arms market.

Andrei Kostin, the VTB bank chief, noted that unilateral sanctions against Russian banks could have “destructive consequences for the global financial system”, such as segmentation, for example.

Yan Novikov, the director general of the Almaz-Antei air defense joint-stock company, believes that sanctions are unlikely to have any noticeable impact on the company’s full-scale plans to design and create promising types of anti-aircraft weapons and anti-missile systems.

The Uralvagonzavod Corporation (UVG Group) has warned that sanctions will, first and foremost, affect enterprises which maintain cooperation in locomotive construction and light rail transit (LRT) such as American Caterpillar and Canadian Bombardier.

The Rostec State Corporation has said that “measures taken by Washington will have a negative impact on cooperation between Russian and US companies and are fraught with undermining mutual trust.

The Voronezh-based Sozvezdiye defense enterprise informs that the sanctions will not produce any serious impact on its activities.

The NOVATEK gas company continues implementing major projects with its participation as planned. “Jointly with international partners, the company will take necessary measures to ensure that the LNG projects are financed and implemented on time,” the NOVATEK Company says.

Chechen President Ramzan Kadyrov has said that the United States used a policy of double standards when it introduced new sanctions against Russia.

“The United States has announced new sanctions against Russia. It is ridiculous! But what can it say about the victims in Afghanistan, Iraq, Libya and Syria?” Kadyrov wrote in his micro blog.

The individuals and companies added to the US sanctions list includes State Duma Vice-Speaker Sergei Neverov; Oleg Savelyev, the minister for Crimean affairs; presidential aide Igor Shchegolev; Federal Security Service Colonel Sergei Beseda; Alexander Borodai, one of the leaders of the proclaimed Donetsk People’s Republic; the Donetsk and Lugansk People’s republics; Russia’s Vneshekonombank, Gazprombank; the Rosneft oil company; the Feodosiya Oil Company in Crimea; the Concern of Radio-Electronic Technologies (KRET), a subsidiary of the state-owned company Rostec; the Voronezh-based Sozvezdiye company; the Tula-based KBP design bureau of instrument-making; the Uralvagonzavod company and the NOVATEK gas company.

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