More sanctions ahead for Russia

The West is set to keep tightening sanctions against Russia; they are going to be endless, Alexander Murychev, executive vice-president of the Russian Union of Industrialists and Entrepreneurs, said at the 8th National Political Science Congress that took place at the Financial University under the Russian Government on Friday, December 7.

“Russians got accustomed to the sanctions. There have been over 60 rounds of sanctions in the past several years. But they do not influence the Russian policy in any way,” Murychev said.

According to the expert, Russia should count on its own capacities and resources.

“The public-private partnership program should be working. There have been statements that businesses are greedy and do not want to share their income. Businesses are also accused of not being domestic-oriented. It is fair to some extent, but one should not forget that large businesses do not ask for money, they ask for a good business environment. In order to provide it we need to remove administrative barriers and develop a predictable tax policy,” Murychev emphasized.

He added that negative sentiments are being whipped up.

“There will be no negative events in the economy in 2019. The country has vast resources. Our gold and foreign currency reserves are about $500 bln; plus the low inflation rate and the budget surplus. We need to continue to develop and create conditions for domestic-oriented businesses,” Murychev concluded.

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