MAYOR: the possible extension of sanctions big blow to US President, EU business than in Russia

PETROZAVODSK, July 26. /TASS/. The possible extension of sanctions the United States more hit by the President of the United States Donald Trump the interests of European businesses and the energy security of the EU than in Russia. This was stated by Minister of economic development Maxim Oreshkin.

“If you look at these sanctions, it is, rather, the stronger they will affect the US President, because a significantly restrict the powers of the President in the framework of the bill, which now will be considered in the Senate,” he said.

“Very serious pressure from the United States we see on European companies of direct impact on the business interests of European companies, and even often within Europe on issues of energy security of Europe. That is, [it is] more a question of appearance”, – he added.

At the same time, new sanctions may lead to some fluctuations of the ruble, but they are not extraordinary, the Minister said.”The course we are floating, there are always fluctuations, so there is some movement possible, but nothing extraordinary is absolutely not expected,” – said Oreshkin.

In addition, the Ministry will not change its macro forecast in the case of entry of new sanctions into force. “When in April we presented a previous version of the forecast, we talked about that in the second half of the expected overall deterioration of the situation with capital flows. I. in principle, this situation fits into this frame.Therefore, no fundamental differences, we do not expect to see here,” said the Minister.

Focus on manufacturing and SMEs

Oreshkin pointed out that the sanctions Russia has learned that it is necessary to maintain and develop its own production and small and medium businesses.

“In fact, macroeconomic policies have been designed in such a way that external shocks associated with the sanctions, had a very serious impact on the Russian economy. Therefore, it is necessary to solve their own problems, to look at what we have going on and how to develop our businesses, try to help them, and only together we will succeed and the sanctions we are uneasy,” said he.