US Unilateral Sanctions Dealing Serious Blow To American Companies In Russia - Mishustin

The unilateral sanctions the United States has imposed against Russia are dealing a serious blow to American companies operating in the country, Prime Minister Mikhail Mishustin said in his address to participants of the US-Russia Business Council meeting on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 14th October, 2020) The unilateral sanctions the United States has imposed against Russia are dealing a serious blow to American companies operating in the country, Prime Minister Mikhail Mishustin said in his address to participants of the US-Russia Business Council meeting on Wednesday.

"Unfortunately, unilateral sanctions imposed by the US leadership against our country have significantly reduced opportunities for practical cooperation between us," Mishustin said. "A serious blow has been primarily dealt to American businesses operating in Russia, they have sustained considerable losses. Today, they are being actively replaced by companies from other countries interested in mutually beneficial cooperation with Russia."

Mishustin emphasized that Russia is open to building multifaceted interaction with all members of the international community and is shaping its market to be an attractive environment for foreign economic entities.

"We hope that in the future, Russian-US business ties will rebound to their pre-crisis levels," Mishustin said.

The Russian prime minister noted that the US-Russia Business Council is making a significant contribution to promoting bilateral trade, economic and investment cooperation.

The Business Council is also facilitating the launching and implementation of "promising joint projects with a special focus on creating new jobs and stimulating economic growth in Russia and the United States," Mishustin said.

In addition, Mishustin urged joining efforts amid the novel coronavirus crisis in order to protect lives and overcome the negative economic consequences stemming from the pandemic.

"Given these circumstances it is important I believe that the US-Russia Business Council has an active role to play in these processes," he said.

Relations between Russia and the United States deteriorated in 2014 under then-US President Barack Obama during the crisis in Ukraine, when Washington meddled in Ukraine's affairs while accusing Moscow of the same and imposed sanctions.

Since, the United States has expanded and tightened the sanctions regime following accusations of Russia's alleged meddling in the 2016 US presidential election.

Russia has repeatedly denied interfering in Ukraine and in the US political system.

US President Donald Trump has repeatedly said he would like to normalize US-Russia relations and expressed his intention to develop cooperation in various areas of mutual interest.