Russia’s economic development minister Aleksey Ulyukaev has claimed that sanctions against Moscow will not be extended, but insisted that Moscow has no plans to cancel its own counter-sanctions until the West drops theirs.
“Most of the sanctions against Russia were adopted as
short-term, emergency measures, and expire within one or two
years, sometimes less. I believe that they can be dropped as soon
as the sides reach an agreement,” said Ulyukaev, following a
meeting with Vladimir Putin in his Novo Ogaryovo residence.
Several rounds of sanctions were imposed, starting from May this
year, first as a result of Crimea’s secession, and later the
instability in eastern Ukraine. However, the West has said that
the cancelation of these sanctions is conditional on the
resolution of the crisis, not restricted by duration.
The sanctions include travel bans, financial borrowing
restrictions for state banks, and limits on technological imports
and co-operation. Last month, the EU decided to extend its
restrictions imposed on Russia, dissatisfied with the shaky
ceasefire in eastern Ukraine.
Ulyukaev, who assumed his post last year, said that Russia would
consider lifting retaliatory import bans on agricultural produce,
which were imposed in August for a fixed period of one year.
“It is definitely possible – but European sanctions have to
be dropped first,” said the official.
The minister also said that Moscow was still mulling over suing
the sanctioning states for breaking WTO free trade agreements,
two years after Moscow joined the international body. President
Vladimir Putin first dubbed the West’s sanctions illegal back in
July.
“We have not made the final decision, but are working on the
legal and technical side of the appeal. It needs a wholesale
approach,” said Ulyukaev.
The WTO operates a “national security exception,” which
has not been directly invoked, and could undermine and politicize
what is an already fragile economic agreement between its 160
member states, which have been involved in multiple conflicts
between each other in recent times.
Ulyukaev also said that Russia would seek closer economic ties,
and specifically additional sources of financing for its
corporate giants and banks in China, with which Moscow has also
signed a series of agreements, including a large scale currency
swap on Monday.