Russian businesses should ‘pivot’ away from West amid sanctions, tariffs — Kneissl

Business & Economy November 13, 15:33

"It's a good option to consider a pivot to the Southeast and South, because the West has been losing its role quite significantly lately," the former Austrian foreign minister noted

YEKATERINBURG, November 13. /TASS/. Russian businesses should "pivot" to the Southeast amid Western sanctions and tariffs, former Austrian Foreign Minister, head of the G.O.R.K.I. center at St. Petersburg State University Karin Kneissl said.

"Europe is currently struggling to balance itself, looking like a sandwich: sanctions on one side, tariffs on the other. And for Russia, it's probably a good option to consider a pivot to the Southeast and South, because the West has been losing its role quite significantly lately, and there haven't been any major changes since 2022," she told reporters during a working trip to Yekaterinburg.

In particular, when entering the eastern and southeastern markets, in addition to large companies that are already trying to enter these territories, it is worth talking about regional and local companies, Kneissl added. "And here it is not only goods, but also services, food products," she said.

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