MOSCOW, August 28 (RIA Novosti) - Western powers are unlikely to impose sanctions against Russia’s industrial sector, Russian Industry and Trade Minister Denis Manturov said Thursday.
“Let’s act on the assumption of reasonable approaches by our colleagues, partners, EU member countries and the United States,” Manturov told the press, in answer a question on how Russia would react if the West introduced sanctions against Russian industry.
The minister also noted that “nature abhors a vacuum,” arguing that Asian businesses could replace Western partners.
“Economy and business dictate the rules in this case. Business always finds a compromise, reasonable decision, a way above the political statements being pronounced and declared now,” Manturov added.
Brussels and Washington introduced economic sanctions against Moscow after Crimea’s reunification with Russia in March. The West claims the referendum that allowed Crimea to break away from Ukraine and rejoin Russia was illegal, while Moscow says the vote was legitimate. The latest round of sanctions, imposed in July, was aimed at the Russian banking and oil sectors, complicating access to Western capital markets for certain Russian banks and restricting trade in advanced oil extraction equipment.