Govt to study damage from GM’s leaving Russia, no sanctions

BOAO, Hainan Province, China, Mar 30 (PRIME) -- The Russian government will explore how General Motors’ (GM) quitting the country hit its economy , but does not plan any sanctions, First Deputy Prime Minister Igor Shuvalov said on March 28 at an economic forum.

“If there is a damage inflicted by the company’s actions, it must be stuidied. If there is any, the company should be called to account. But we do not see any (damage) for now,” Shuvalov said, adding that he discussed the issue with Deputy Prime Minister Arkady Dvorkovich and he “have not heard about any sanctions against GM.”

“I think it is a mistake…Russia’s car market is not in it best shape now, but it will develop. All experts that study the market now think that Russian consumers have a good taste in automobile production and the possibilities of selling cars at our market will be significant in the long run.”

GM said on March 18 it will cease operations in the country. It halted industrial assembly at its car plant in St. Petersburg, will suspend contract car assembly at a plant of Russian carmaker GAZ Group in Nizhny Novgorod and withdraw Opel models and Chevrolet mass models from the market.

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