Russian authorities ask firms for sanction relief proposals
Russia seeks ways to ease sanctions ahead of talks with Washington.
Russian authorities have requested companies to submit proposals for easing sanctions ahead of negotiations with the U.S., Reuters reports. The Minister of Industry and Trade initiated the collection of proposals from companies to understand which sanctions are causing the most harm to the economy. It is known that restrictions affecting cross-border payments are considered the most painful for businesses.
U.S. Secretary of State Marco Rubio, in his statement, noted that it is now Russia's turn to respond to the 30-day ceasefire proposal, which was put forward by Washington and supported by Kyiv.
The Ministry of Industry and Trade of Russia has distributed questionnaires among companies, in which they are asked to specify which sanctions have had the greatest impact on their activities. The questions focus on the most sensitive restrictions and aim to identify the problems faced by Russian companies in the context of sanctions isolation.
Respondents, including representatives of major exporters, lawyers, economists, and consultants, have reported that the main problems include difficulties with payments, which lead to increased transaction costs and settlements through third currencies. In particular, the most painful issue for businesses is the restriction on payments in U.S. dollars. Three sources also mentioned energy sanctions, including restrictions on the Russian tanker fleet, as secondary problems.
When asked which sanctions Russia wants to ease, Kremlin spokesperson Dmitry Peskov stated that all sanctions are considered illegal and must be lifted. However, as Peskov emphasized, the details of easing sanctions will only become known after the start of negotiations with the U.S., and it is too early to predict potential outcomes.
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