Russian business is looking for loans in the Arab market
The sanctions imposed by Western countries against Russia are formal in everything except access to financial resources. This was stated today at a press conference in Moscow by the President of the Chamber of Commerce and Industry of the Russian Federation, Chairman of the Russian part of the BRICS Business Council Sergei Katyrin.
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“This is painful for financial institutions. They are now looking for other sources of borrowing. It is not simple. During this time we have learned to work with Europe. They could give it on parole. In Arabic and other markets they don’t give you your word of honor. This is our first time there, they are new partners for us. And they don’t have the same opportunities as European banks,” Katyrin said.
He referred to personal experience of communicating with European businessmen.
“Last year I traveled through several European countries with a delegation of Russian entrepreneurs. At meetings, right in front of the cameras, their entrepreneurs stand up and do not hesitate to say: you tell us who has the money, and we will bring you everything you want. These sanctions are only on paper. I have not yet met Western entrepreneurs who would approve of sanctions. Everyone is waiting for them to end,” said Katyrin.
The President of the Chamber of Commerce and Industry believes that nothing fundamentally new is happening.
“In Soviet times, we lived in approximately the same regime. A lot of things were forbidden to us, but we got everything, and everything worked. Now our farmers generally pray to God that the sanctions will never be lifted every morning. They grew up during this period. Therefore, it was decided to leave counter-sanctions until the end of next year. So that people working in rural areas have a future,” said Katyrin.
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