US State Department tells companies that there are many risks in doing business with Russia

The US State Department confirmed that it is working with representatives of the business community in order to convince companies to not do business with Russia in the usual way, RIA Novosti reported. “We continue to clearly state in communications with US companies that we believe that a return to the usual means of conducting business with Russia causes both economic and reputation risks,” the agency quoted the unnamed representative of the US State Department as saying.

According to the official, the warning is part of the overall strategy which also includes sanctions, restrictive measures and reduced diplomatic communications.

“In addition to the legal assessment that should be taken by companies in order to ensure that they don’t violate US sanctions as a result of the situation in Ukraine, it is also important that private companies in the US, the European Union and around the world understand that Russia will remain a high-risk market while their actions continue to destabilize Ukraine,” the representative noted.

Earlier, the press spokesman for the President of Russia, Dmitry Peskov, stated that the Kremlin is unaware of the fact that the State Department authorities allegedly advise their banks to not purchase Russian Eurobonds. As reported by the Wall Street Journal, referring to knowledgeable sources, the US authorities have recommended that some major American banks refrain from buying Russian government bonds.

According to the Wall Street Journal, several credit organizations have also received the same recommendation from the State Department and the US Treasury in response to their request to participate in the placement of Russian securities.

  Russia, USA, Sanctions, Economy

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