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Latest US sanctions against Russia ‘won’t have much impact’, says Chamber of Commerce

The official noted that the constraints on access to external financial resources would have the biggest impact on business

VLADIVOSTOK, September 5. /TASS/. The second package of Washington’s anti-Russian sanctions that came into effect in late August will not have any serious effect on the business sector, President of the Chamber of Commerce and Industry of the Russian Federation Sergei Katyrin said in an interview with the "Future Russia. National Projects" portal operated by TASS.

"I think that it won’t have much impact on big businesses either <…> nor will it drastically change the situation," Katyrin said, when answering a question on how the restrictions would influence small and mid-size businesses.

Nevertheless, Katyrin noted that the constraints on access to external financial resources would have the biggest impact on business.

August sanctions

The second package of the US’ anti-Russian sanctions came into force on August 26. The restrictive measures include Washington countering the granting of loans, or any financial or technical assistance to Russia by international financial institutions, such as the World Bank or the International Monetary Fund (IMF). In addition, it contains a prohibition on American banks from taking part in the primary market of non-ruble bonds of Russia’s sovereign debt, or issuing non-ruble loans to the Russian government, as well as restrictions on the export of some goods and technologies.

The forum

The fifth Eastern Economic Forum is being held in Vladivostok on September 4-6. The Roscongress foundation is the forum’s organizer. TASS is the forum’s information partner, official photo hosting provider and the moderator of the zone for the presentation of the Far East’s innovation opportunities.