Russia Set To Sanction US Businesses

Tyler Durden's picture

Russian State Duma and Federation Council members are considering the imposition of sanctions on US businesses as discussions are increasingly focused on retaliatory sanctions on the US. "If the US cares little about losing business contacts with Russia through imposing its sanctions," then Duma Deputy Dengin warns of measures to set limits to representative offices of companies in Russia that are owned by US nationals.

 

Via Voice of Russia,

Russian State Duma and Federation Council members are considering the imposition of sanctions on US businesses. The Russian legislators feel that Russia should react to US moves against Russian entrepreneurs in a mirror-like way. But major foreign companies point out they are going to go ahead with their cooperation with the Russian Federation.

 

A Duma Deputy Vadim Dengin has told the Moscow-based Izvestia daily that the MPs have been increasingly often focused on retaliatory sanctions on the United States, specifically on measures to set limits to representative offices of business companies in Russia that are legal entities, owned by US nationals.

 

"If the US cares little about losing business contacts with Russia through imposing its sanctions, then Russia should have long since started supporting Russian producers in full", the Duma Deputy said.

 

A Member of the Duma Financial Market Committee, Boris Kashin, believes that imposition of sanctions on US businessmen is possible only if the US slaps these kinds of sanctions on Russian businessmen first. But Russia should think it over what foreign goods and/or services we could give up, the politician says.

 

"Russia cannot forgo all such goods, for instance, US-made computers. But if there is, for example, a Chinese-made analogue available, we could use it instead of US-made goods, if these are on the US sanctions list", Kashin said.

However, not everyone faces the ax...

But US companies that have been cooperating with Russia look forward to further cooperation with this country. According to an official of the US Exxon Mobil oil and gas corporation, one should always make an impartial analysis of the situation first and then decide on whether sanctions should or should not be imposed.

 

He told the newspaper he hoped his company would manage to avoid political problems and they would be able to continue working in Russia.

The tit-for-tat sanction battle is set to resume and can only be negative for the world's economy as the "boomerang" keeps bouncing back and forth.