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Russia faces tough sanctions, but they offer chance for country's development, says Rostec

According to Sergey Chemezov, Russia has regularly been struggling against various sanctions and has always emerged as the winner

MOSCOW, March 10. /TASS/. CEO of Russia's state hi-tech corporation Rostec Sergey Chemezov calls the sanctions imposed against Russia quite serious, but believes they provide a chance for the country's own development, he said at a meeting with the state corporation’s employees.

"Tough times lie ahead of us. The sanctions are quite serious, but if you look at Russian history, the country has regularly been struggling against various sanctions, against enemies that surrounded it, and has always emerged as the winner. I think this will happen now, too," he said.

"Since 2014, when these sanctions were announced, they offered us the opportunity for our own development. Look at what we have already done today, much of what was previously purchased abroad is produced here," Chemezov added.

According to the corporate boss, Rostec enterprises will deliver on all social obligations to their employees. "If we are talking about Rostec enterprises, I have warned all managers that they are obliged to fulfill all social responsibilities that the management had with regard to their employees, everything will be fulfilled. Furthermore, wages will always be paid, and everything that was previously promised by us will be fulfilled as well," he vowed.

Russian President Vladimir Putin said in a televised address on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation. The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories. The sole purpose is the country’s demilitarization and denazification.

After that, the US, the EU, the UK and a number of other states announced that they would impose sanctions against Russian legal entities and individuals.