The Europeans cooperated with Russia even in more difficult times

4 december 2018 | Argumenty i Fakty

The toughest version of the sanctions being discussed in the USA envisions complete break off in trade between the USA and Russia. What would happen then? Which countries would we then be able to grow our economy with? These are the questions that Leonid Grigoriev, principal advisor to Head of the Analytical Center, answered for the Arguments and Facts newspaper.

Leonid Grigoryev
Leonid Grigoryev
Chief Adviser to Head of the Analytical Center

"Russia's trade with the USA is not that big. Exports are in the 11th place among other countries, imports are in the 3rd place and have shrunk by a third over the past four years. We will do just fine without the American cars and we can also buy a lot of medications and equipment in Europe and Asia. And it's very unlikely that the Americans will ban all trade with no exceptions," Mr. Grigoriev said. "They always leave loopholes to allow themselves to buy and sell what they need. If it was possible now to sell the so called Bush chicken legs to Russia I'm fairly sure they would find a way to keep selling them to us. However, I can't imagine a ban on trade without a big ban on financial transactions with our country. And that's the most dangerous scenario as such a ban would undermine our relations with partners all over the world because the bulk of international transactions get routed through New York banks. The thing is, though, most countries around the world want to keep cooperating with Russia so our partners will probably try and find a way to keep trading with us without directly going against the Americans. And Russia should be able to protect her interests if we have enough patience to negotiate and sign long term economic unions."

For a full text of the interview see the Arguments and Facts newspaper.