No Risks for Russian High-Tech Companies From US Sanctions – Moscow

2014/04/29

MOSCOW, April 29 (RIA Novosti) – Russian Finance Minister Anton Siluanov said Tuesday he sees no potential risks for Russian high-tech companies from a new round of US sanctions.


“I don’t see that here any companies will be hurt,” Siluanov told journalists.


Commenting on the US sanctions list, which includes Sergei Chemezov, CEO of Russian state-owned high-tech corporation Rostec, Siluanov said “this is a mercenary manager, the company itself has not been put on the blacklist.”


The United States imposed sanctions Monday, including asset freezes and visa bans, against 7 Russian individuals, including Chemezov and Igor Sechin, the CEO of Russia’s state-controlled oil giant Rosneft, as well as 17 Russian companies linked to Russian President Vladimir Putin’s inner circle.


Washington announced it restricted exports of high-tech defense products to Russia that could enhance Russia’s defensive capacity. US high-tech exports to Russia include turbine engines, electric generators, fission triggers, isotopes and computing technology.


In addition, additional restrictions were introduced against 13 of the companies by imposing a license requirement with a presumption of denial for the export, re-export or other foreign transfer of US products to the companies.


Moscow has repeatedly warned that talking in the language of sanctions is “inappropriate and counterproductive” and warned Western officials about the “boomerang effect” that sanctions would have.



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