Expert of ATON: Increasing Political Crisis not to Affect British Business in Russia
Azerbaijan, Baku / Trend / It is more profitable for Russian authorities to use Britain's business interests in Russia than to force it out from Russia, an economist of analytic department of ATON investment company, Vladimir Osakovski, said to Trend on 18 July. He was commenting on possible effect of tensed Russian-British political relationships upon joint development of business field.
Osakovski gave an example of Tony Blair's June speech on opportunities of rolling up economic relations due to deterioration of business climate in Russia, after which a number of the representatives of British big business, including Peter Hambro Mining and Barclays Capital, criticized it.
According to Osakovski, given British political system such speeches of the representatives of big business are of more efficient influence upon the British Government than any sanctions against British business from Russian side.
"We can say that efficient activities of British companies in Russia are the best protection for Russian authorities from any measures or sanctions of the British Government, and I think Russian powers understand that. I do not believe the increasing political crisis in Russian-British relationships will anyhow affect British business in Russia," he said.
In an official statement by the British Foreign Ministry it was noted that the British Government wishes to eliminate any negative effect on commercial relations between two countries. It was indicated that suspension of liberalization in visa regime with Russia would touch only Russian officials and would not affect business or tourist trips to the country. Thus, it was stressed that the British side would not take any economic measures, though Tony Blair assumed that in his speech before G8's summit in Germany.
"It is important to acknowledge that British investments to Russia might be more in number providing more favourable political atmosphere. In this connection it can be said that the crisis can possibly lead to some redistribution of the investments that could flow to Russia. In do not believe that the scale of such redistribution will be dramatic, though a lot will depend on how and when the crisis will be settled," Osakovski said.