Political fears prevent US investors from tapping into Rusian market
by Joseph
Earnest July 29, 2015
Newscast Media MOSCOW—Oversensitivity to
geopolitical risk keeps US investors from seeing the advantages of the
Russian market, stated Alexis Rodzianko, the head of the American
Chamber of Commerce in Russia (AmCham Russia).
The AmCham Russia head expressed hope that US sanctions
against Moscow and Russia’s reciprocal food import ban would be lifted
soon. According to Rodzianko, these measures "distort life, make living
more expensive" and eliminating them "would be better for everyone."
"Currently, when [US] investors think
of Russia, the geopolitical factor is the most striking. If they
understand that the focus is shifting away from this factor, than other
factors – for instance, that assets and the ruble are becoming cheaper
in Russia — are becoming more obvious," Rodzianko told RIA Novosti.
He added that American Chamber of Commerce member companies had no
plans to leave the Moscow market, adding that, amid a slump in oil
prices and the decreasing value of the Russian national currency, Russia
is increasingly competitive.
"Russia now has an opportunity to become an exporter of processed
products, something that would be absolutely impossible with a very
expensive ruble. According to the most recent studies, Russia has become
a very competitive country, much like China in this aspect," he said.
Relations between Moscow and Washington deteriorated
following Crimea's reunification with Russia and the escalation
of tensions in Ukraine in 2014. The United States and their allies
accused Russia of fueling the internal Ukrainian conflict — a claim
Moscow has repeatedly denied — and began imposing sanctions.
In August 2014, Russia responded to Western restrictions by imposing a
ban on food imports from countries that had introduced anti-Russia
sanctions.
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