US Anti-Russian Sanctions Likely To Remain Targeted - AmCham

US sanctions against Russia will remain targeted, since broader sanctions are not in the interests of the United States itself, President of the American Chamber of Commerce (AmCham) in Russia President Alexis Rodzianko said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 13th March, 2019) US sanctions against Russia will remain targeted, since broader sanctions are not in the interests of the United States itself, President of the American Chamber of Commerce (AmCham) in Russia President Alexis Rodzianko said on Wednesday.

The remarks were made at a conference dubbed "Russia-US Economic Cooperation In Turbulent Times," which is held jointly by the Valdai Discussion Club and the Russian Union of Industrialists and Entrepreneurs with participation of the Russian-American Council for business Cooperation in Moscow.

"Sanctions ... will not go away quickly. The very tendency is very strong ... It is a political wave, so one should expect more [sanctions] until this way subsides ... It would be targeted sanctions, they will not be absolute. Nobody wants it, and nobody can afford them, even the United States. Pushing the country to abandon the use of Dollar is not in the interest of the United States. Banning securities trading is not in the interest of the United States," Rodzianko said.

According to him, Russia remains a rather attractive market despite sanctions.

"Russia is an interesting market, it is a large market. Over the past years, the country has managed to improve the balance due to sanctions and pressure. It is a country with big reserves, with very low debt � both state and corporate. It is a country with a rather high income per capita. It is a country which should be two-three times richer. That is why Russia's potential is big, and no businessman, even a US one, will ignore this," Rodzianko added.

He stressed, however, that Russia should take further efforts to improve the investment climate.

In 2014, relations between Russia and the West deteriorated over the former's alleged involvement in the Ukrainian conflict and Crimea's reunification with Russia following a referendum. The United States and the European Union have since imposed several rounds of sanctions on Russia's energy, banking, defense and other sectors, as well as on a number of Russian officials. Moscow has repeatedly denied the allegations and reacted with countermeasures against the Western nations that targeted it with sanctions.