Kremlin intends to support Russian companies that fell under US sanctions

At a governmental meeting with his deputies, Russian Prime Minister Dmitry Medvedev called the new sanctions imposed by the U.S. Department of Treasury “unpleasant protectionism” against Russian companies and businessmen, The Insider news outlet reports.
“Friday’s sanctions against our country are, no doubt, another manifestation of the protectionist policy only dressed up as sanctions,” Medvedev said.

The PM stated that Russia considers the new sanctions unacceptable and unlawful, as they go against the rules of international law.

Medvedev ordered the government to develop measures to support Russian companies that fell under new sanctions imposed by the U.S.

“Even without the sanctions, our companies receive support on a regular basis,” said Arkady Dvorkovich, a high-ranking Kremlin official. “We nurture our leading companies, as they represent thousands of staff members and are valuable working places of our country. But especially in this situation, when they’ve been challenged, we will provide them with support.”

As it was earlier reported, the new sanctions imposed by the U.S. Department of Treasury on Russian large companies and oligarchs designated under the Kremlin List gave a serious blow to Russian economy. In particular, stocks of Russian companies and the value of the ruble are plummeting.

Among the individuals and companies hit by the new sanctions was Russian billionaire Oleg Deripaska, President of the RUSAL aluminum conglomerate and owner of the En+ Group and GAZ automobile manufacturer. RUSAL has already warned of a possibility of technical default on some of its obligations due to the new sanctions imposed by the United States.

  Russia, US, sanctions