MOSCOW, Apr 12 (PRIME) -- The new U.S. sanctions against Russian companies and businessmen are groundless and infringe the principles of competition, to which the country will retaliate to protect its interests, but will never violate global trade rules, Deputy Economic Development Minister Alexei Gruzdev said in an interview with PRIME on Thursday.
“As to the new U.S. sanctions on individuals, they are an element of non-market competition, which worsens the market player’s state… We see the sanctions as groundless and infringing the robust competition principles,” he said and added that Russia will fully comply with the World Trade Organization (WTO) rules while designing its counter measures.
On April 6, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies.
Gruzdev also said that the U.S. decision to impose long-term duties on steel and aluminum imports is also illegitimate and Russia has already expressed its disagreement at the WTO.
In March, the United States slapped a 25% duty of steel imports and a 10% duty on aluminum imports from several states, including Russia, explaining the move by national security reasons.
“We are monitoring the situation, this is a very serious decision of the U.S. and we have officially expressed our disagreement at the WTO. The situation has not been finally settled yet. The government is still analyzing it,” Gruzdev said.
The official is sure that the WTO members should not hide behind national security while pursuing their economic interests to prevent every state use such reasons to explain its protectionist policies.
He also said that further trade war escalation between China and the U.S. may misbalance the global trade system and pose challenges for third countries, including Russia.
“Both states are the key players of the global trade system and all tensions inevitably impact the entire system,” he said.
“It is difficult to predict further development of the situation or which sectors it may additionally hurt.”
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