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26 of October, 16:00

AEB: European business wants to maintain a presence in the Russian Federation
The Europeans want to keep production and partnership in Russia in a difficult economic environment in the country, While reducing costs, told in the interview Last news the head of the Association of European businesses Philip Pegorye.

"There's an economic crisis, We adapt our presence, reduce costs, send back expats, but we keep all that We can save most plants, partnership in the Russian Federation ", - He told on the sidelines of the 4th Eurasian forum in Verona.

He said that European investments in the Russian Federation at the moment has reached 170 billion euros, presumably 75% of direct investments into the country. While 20 years ago this volume was equal to only one billion.

"The European organization here, they are here for a long time, they have experienced several crises. The only difference this fall is, it is not only economic crisis but also political, " says Pegorye.

in his vision, all crises, even political, are temporary." This punishment is temporary, most of the penalties that are associated with the Eastern Ukraine. We work with the European authorities that they had rented the punishment, " he finished Pegorye.

Relations between Russia and the West deteriorated in connection with the situation in Ukraine. At the end of July 2014, the EU and the US from point penalties against certain individuals and organizations have moved to the measures against entire sectors of the Russian economy. In response, Russia restricted imports of food items from countries that have imposed against her punishment. In June 2015, in response to the extension of the sanctions Russia has extended food embargo until 5 August 2016.

sections: Politics

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