No new sanctions will be imposed on Russia, but sanctions already imposed will stay in effect a long time - Ulyukayev
SOCHI. Sept 20 (Interfax) - Russian Trade and Economic Development Minister Alexei Ulyukayev believes no new sanctions will be imposed on Russia, but the sanctions already imposed will stay in effect for a long time.
"It seems to me that no new sanctions will be imposed. However, it also seems to me that the sanctions already imposed will stay in effect for a long time, almost regardless of the development of the situation in Ukraine," Ulyukayev told reporters at the Sochi 2014 forum.
Ulyukayev said he believes the effect from the sanctions will reach its peak in 2016-2017 and will not be so noticeable in 2015.
"That is, even if everything they are discussing in Minsk is achieved, the sanctions are unlikely to be lifted and we will have to live with them for a long time. Although we included the lifting of the sanctions in our 2015 forecast, I seems to me that it won't happen," Ulyukayev said.
"The negative effect from these sanctions is delayed: they will fall on the future period and we will have to live with that for a long time," he said.
"For this reason, we need to learn to react to it. However, we should not react by imposing some counter-sanctions, which I think is counterproductive, but by supporting those who have been affected by these sanctions," the minister said.
"I don't fully understand it, but it looks like the effect will reach its peak in 2016-2017, not in 2014 or 2015 ," he said, commenting on the impact of the sanctions on Russia.