Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.


Europe doesn’t want Russian sanctions – St. Pete forum delegates to RT

Published time: May 25, 2014 11:49
Edited time: May 28, 2014 12:50
St. Petersburg hosts Global CEO Summit (RIA Novosti / Vladimir Astapkovich)

St. Petersburg hosts Global CEO Summit (RIA Novosti / Vladimir Astapkovich)

While this year’s Intl Economic Forum in St Petersburg saw fewer foreign guests due to sanctions tension, those who chose to leave politics aside told RT imposing economic restrictions on Moscow would mean “cutting the trees” they are “sitting on”.

Here’s what the top managers told RT at the Economic Forum in St. Petersburg.

Reiner Hartman, Chairman at the Association of European Businesses

“We as investors have a success story in this country for 22 years. We’ve started from scratch and we have now such a fantastic story... We have investors from Europe, from the United States, from South America, from Africa, from Asia. They are all here. And why are we being taken hostage by irresponsible, I must say, political decision making people?”

“I’ve heard about 20 or 57 Chinese high-tech companies ready just to move in and replace Alstom, Siemens, BASF, and Bayer, just to name the few. It’s amazing!”

Jean-Pierre Thomas, President of Thomas Vendome Investment

“CEOs and managers of western businesses are very aware that we have to cooperate with Russia because we are very complimentary. In Russia you have a lot of things to do to modernize your economy and need our technology and in Europe we need export and growth.”

“We [the West] have everything to lose in terms of economic growth and business. That’s why the US pushed for the economic sanctions. We are cutting the trees we are sitting on. It’s completely idiotic and inefficient - the solution is diplomacy.”

“I don’t think the EU will agree on economic sanctions. The English will not touch finance, the French won’t touch defense.”

Joe Watt, Managing Partner at Ernst and Young

“Russia has been through various cycles over the last 25 years, this is another cycle. I think there are long-term opportunities. The idea is that if companies leave now, it will be very hard for them to re-establish themselves in the future.”

“What we do see is some great entrance and great buying opportunities, we’ve even heard of some companies here now actively looking at opportunities to enter the market now. We do see companies taking advantage of the situation, and those companies will be successful in the long-term."

Shiv V. Khemka, CEO at Sun Group

“We very much believe in the future of Russia. You have tremendous human capital and your human capital is a huge asset, you have huge resources and you are on the border of Asia. Hence, what’s happening now is very logical.”

David Owen, Managing Partner at Deloitte CIS

“The atmosphere, the mood at this forum, it’s the fourth that I’ve attended, is quite resilient. And I think … business people are looking onto the politicians on all sides to create a sustainable political solution that enables us as business leaders to focus on how we are going to take advantage of that, to build our business interests and to ensure that the health and stability of the regional economies. I think, it’s a very healthy can-do attitude being demonstrated by all the people that are here.”

David Gray, Managing Partner at PricewaterhouseCoopers, Russia

“Europeans see Russia as a partner, there are many businesses that have been in Russia for many years and continue to believe that Russia is a very attractive market for them. And they still have plans about expanding their activities in Russia... People see a lot of opportunities for further developments in trade. I don’t think that gets completely derailed. I think we are going to have the polls where people figure out what political events mean. But I still think Europe is going to be extremely important market for Russia and Russia is going to be an extremely important market for Europe."

Comments (11)


mijj 27.05.2014 04:56

misery loves company.

Th e US Regime didn't destroy Ukraine as a means for isolating Russia. It destroyed Ukraine and is attempting to create a new Cold War to subvert the growing economic synergy between Europe from Russia.

Rus sia won't be effected after it's realigned with a more reliable partner who can speak for itself. It's simply that the US Regime wants Europe to share the desolation its bringing on itself.


Sei Kai 26.05.2014 14:14

I would love to do business in Russia. I've played with the thought of setting up a branch of my softwarecompany there. Because of cheaper, high skilled labour, and available engineers.

But currently it's not possible. The corruption, security, generall lawlessness. I won't risk my own life or my employes to go there, or risk ending up in court sued for something silly taking years to solve.

I really hope the population wakes up one day and see what's going on. The leaders hug all the money in various ways and leave little for the rest. The leaders are part of the problem as they profit from the chaos.


Jerry Singleton 26.05.2014 09:59

Sanctions only help the USA and let us no forget who spied on everyone foe and so called friend alike.
The EU should give USA the finger in the spirit Victoria Nuland's infamous comment.
Dump those T-bills.

View all comments (11)
Add comment

Authorization required for adding comments

Register or



Show password


or Register

Request a new password


or Register

To complete a registration check
your Email:


or Register

A password has been sent to your email address

Edit profile



New password

Retype new password

Current password



Follow us

Follow us