Washington's recent sanctions against Moscow that bar US financial institutions from trading operations with the Russian government debt have not had a significant impact so far, Alexis Rodzianko, the president of the American Chamber of Commerce in Russia, told Sputnik on Thursday
ST. PETERSBURG (Pakistan Point News / Sputnik - 03rd June, 2021) Washington's recent sanctions against Moscow that bar US financial institutions from trading operations with the Russian government debt have not had a significant impact so far, Alexis Rodzianko, the president of the American Chamber of Commerce in Russia, told Sputnik on Thursday.
Wexler Capital Chief Investment Officer Steven Keller told Sputnik in April that the sanctions were more symbolic, calling the move "more of political grandstanding by the United States that's unlikely to cost the Kremlin much sleep."
"They have not had a significant impact. They have probably had a bit of an impact on the business that American banks can do with Russia," Rodzianko said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
The expert said that the main issue was not the sanctions on sovereign debt themselves but rather a threat that they could hit secondary markets, which have not been affected so far.
Washington introduced a ban on US entities from purchasing the ruble-based bonds on April 15 as part of a new series of anti-Russian sanctions over its alleged cyberattacks and other hostile acts against the US' interests. The US financial institutions, however, still are able to trade in the secondary bond markets, preserving some of the foreign investment crucial for the Russian economy.
SPIEF an annual economic forum that gathers officials, business people and experts from around the world is taking place in-person from Wednesday through Saturday at St. Petersburg's ExpoForum Convention and Exhibition Center. The Rossiya Segodnya International Information Agency is an official media partner of the country's major economic forum.
