AmCham told about the complaints of business in the United States on sanctions against Russia
St. PETERSBURG, may 24 — RIA Novosti. About 84% of U.S. companies believe that sanctions had a negative impact on their business development in Russia, according to a study by the American chamber of Commerce in Russia (AmCham Russia), presented on the sidelines of the St Petersburg international economic forum (SPIEF). The study is based on survey data on the prospects of direct investment and bilateral trade between Russia and the United States.
About 84% of U.S. companies believe that sanctions had a negative impact on their business development in Russia, according to a study by the American chamber of Commerce in Russia (AmCham Russia), presented on the sidelines of the St Petersburg international economic forum (SPIEF).
The study is based on survey data on the prospects of direct investment and bilateral trade between Russia and the United States. It was attended by 72 of the American company of more than 500 members of AmCham. The survey was conducted in April 2018 in partnership with EY. The study also considered public information and official statistics.
“84% of surveyed companies felt a negative impact of US sanctions on their business in Russia. In 2017, these companies was 69%”, — follows from the document.
The most common negative effect of sanctions is that they put American businesses at a disadvantage with competitors from other countries. This answer was given by 35% of surveyed US companies.
Another 25% of respondents said that because of sanctions they have been forced to freeze their projects. About 15% of companies spoke about the difficulties with funding, 11% reported that sanctions have limited the conduct of business with key clients in Russia and resulted in the shrinking of the market.
Among the negative factors caused by the sanctions, the company also indicated a disruption of the supply chain, the overall deterioration of the business climate and conditions for doing business in Russia, the complexity of finding correspondences between the laws in Russia and the United States, the growth of the reputational risks of doing business in Russia and the difficulties in hiring management from other countries.