Russia's Borrowing Abilities Unaffected By US Sanctions Against Public Debt - AmCham Head

Russia's Borrowing Abilities Unaffected by US Sanctions Against Public Debt - AmCham Head

New US sanctions against Russian state debt are more of a symbolic nature and will not seriously affect the possibilities of financing the Russian government, they will mainly affect US banks, Alexis Rodzianko, the head of the American Chamber of Commerce in Russia (AmCham), told Sputnik

MOSCOW (Pakistan Point News / Sputnik - 15th April, 2021) New US sanctions against Russian state debt are more of a symbolic nature and will not seriously affect the possibilities of financing the Russian government, they will mainly affect US banks, Alexis Rodzianko, the head of the American Chamber of Commerce in Russia (AmCham), told Sputnik.

The White House announced new sanctions on Thursday barring US financial institutions from buying Russian government bonds during Primary placements after June 14.

"The symbolic significance of these sanctions is much greater than their actual effect. To a greater extent, they affected the interests of those banks that were prohibited from making these placements. These are mainly US banks or banks that are rather close to the United States," Rodzianko said.

"It seems to me that they will not seriously affect the possibilities of financing the Russian government I don't see a big obstacle. The secondary market continues to work. The symbolic meaning of the sanctions is to show: 'We did it, and then we will do more.' I guess this is the main meaning of today's steps," he added.