Russia not expecting sanctions to be lifted quickly after Trump's victory, says union leader

MOSCOW

Russia is not expecting sanctions to be lifted quickly following Donald Trump's victory in the US presidential election, said Aleksandr Shohin, president of the Russian Union of Industrialists and Entrepreneurs (RSPP).

Sanctions on Russia will be gradually lifted, although they were imposed quickly, Shohin told reporters in the west-central Russian city of Chelyabinsk, describing Trump as an emotional and unpredictable person.

“What many people expect from him is to fulfill his promise that he will not start or support new wars and will end old wars,” he said.

When doing business with Western countries, Russian businesspeople "hope for the best but start from the worst," he said. "The Russian business world, including large companies, has the experience that sanctions are easily imposed but very slowly removed."

He said there are several reasons why the sanctions pressure will continue.

Regarding the ongoing conflict in Ukraine, Shohin said, "Even if the special military operation in Ukraine ends, Western countries will find reasons to maintain sanctions."

"Russian companies are focused on developing relations with Asia-Pacific, Africa, and Latin America, where economies are growing faster than in Europe and the US.”

Cooperation with these regions will accelerate if sanctions are lifted, he said, adding, "We must keep in mind that diversification is more profitable in any case. You cannot put all your eggs in one basket."

* Writing by Gokhan Ergocun from Istanbul