29 Apr 2014

Sanctions will not affect Rostec’s activities


The new sanctions imposed on a number of Russian companies and individuals are a regrettable move since such decisions impede fruitful cooperation between the two countries’ industrial corporations aimed at developing joint projects of strategic global importance.

For over a decade Sergey Chemezov and international corporations have been building business connections whose strength and durability are measured not only in the properties of innovative materials and alloys, but also by the memory of generations of Russian, US and European manufacturers and entrepreneurs. The stability of these connections is first and foremost defined by contractual obligations, which Rostec, as a responsible organization, unquestionably fulfils and shall do so in the future.

As for any sanctions and cooperation bans, they contradict the logic of the sustainable development of the global economy and destructively affect the technology chains of the world’s leading industrial companies. Rostec remains open to Russian and foreign investors and partners.

Imposing targeted sanctions on Sergey Chemezov will not affect Rostec’s activities. The introduced restrictions will not prevent him from performing his duties as Rostec CEO, nor will they affect the operations of the companies in which Sergey Chemezov is a member of Board of Directors.