The Heads of Nizhny Novgorod industrial enterprises discusses sanctions against Russia

Long-term sanctions can have a negative influence on both sides. 29.Sep.14 10:54 AM By Mihail Prygunov Photo infonsk.ru    717

Participants of Nizhny  Novgorod  Industrial and Business Association have discussed consequences of sanctions which were implemented against Russian federation. The main aim of this meeting was to evaluate negative effect of sanctions towards industry in the capital of the Volga region. This information was provided by “Kommersant”. The heads of the biggest industrial enterprises in the region paid attention to the fact that sanctions are very likely to have a negative effect on future supplies of foreign equipment. At the same time long-term sanctions and limitations will not be beneficiary for all sides. Director of Bor Glass factory said that his foreign p[partners have refused to supply necessary equipment which include not only new machines but also spare parts for those machines, that have been already supplied. Negotiation with Russian and Chinese suppliers is taking place at the moment. The Head of another industrial; enterprise noted that sanctions have not influenced project works. At the same time some difficulties occur when it comes to machine and additional equipment supply. Deputy Minister of Industry and Innovations Igor Sozonov stressed that it is rather hard to evaluate the overall negative influence which was caused by US and European sanctions. This is due to the fact that they mostly have a delayed effect. On the other hand all agreements and contracts that have been signed before sanctions implementation will certainly be completed in according with their terms and conditions. The General Director of Nizhny Novgorod Industrial and Business Association Nikolay Nesterov reported that protection of domestic producers is priority goal for the government and Industrial and Business Association.

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