Russia may support companies facing Ukrainian sanctions

Russian Economic Development Minister Alexey Ulyukayev did not rule out backing the companies, which faced new sanctions imposed by Ukraine this week, depending on their economic status.

“Should we back the companies? This will depend on their future [economic] status,” he told TASS on Friday.
According to the official, the impact of new Ukrainian sanctions against Russian companies will be negative though limited from the macroeconomic point of view.

“Of course sanctions will have a negative effect, though we’re now facing a serious reduction of turnover so this will not have a substantial macroeconomic impact. But for separate companies the impact will be negative,” he said.
“The ministry will be closely watching, calculating and responding,” he added.

The minister plans to raise the issue of extension of anti-Russia sanctions by Ukraine at the trilateral meeting, which is due to be held in November in Brussels, he told TASS on Friday.

“We plan as this is obviously another unfriendly step made by the Ukrainian side,” he said when answering the question whether the Minister plans to discuss the issue of Ukraine’s sanctions during the trilateral ministerial meeting between Russia, Ukraine and the European Union /EU/ due in November in Brussels. “More than 40 regulatory acts aimed at Russian investors and Russian companies, which complicate their work, have been adopted at various levels in one year,” he said.

Russia has already prepared a package of measures to impose food embargo against Ukrainian goods starting from January 1, 2016 when the Ukraine-EU association agreement comes into force. “We will consider other options as well,” he added.