UK Business in Russia Gives Way to China, India Competitors Amid Sanctions

© Sputnik / Natalya Seliverstova / Go to the photo bankSeveral buildings of the former Krasny Oktyabr Chocolate factory in Bersenevsaya Embankment in Moscow
Several buildings of the former Krasny Oktyabr Chocolate factory in Bersenevsaya Embankment in Moscow - Sputnik International
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The British business in Russia lags behind Chinese and Indian competitors because of anti-Russia sanctions, UK parliamentarian Daniel Kawczynski said Tuesday.

The logo of VTB Group is seen through a window of Imperia Tower on the facade of the Federatsiya (Federation) Tower at the Moscow International Business Center also known as Moskva-City, in Moscow, Russia, in this August 5, 2015 file photo - Sputnik International
US State Dept Maintains Warnings About 'Risks' Doing Business With Russia
MOSCOW (Sputnik) — The British business in Russia lags behind Chinese and Indian competitors because of anti-Russia sanctions, UK parliamentarian Daniel Kawczynski said Tuesday.

"I had a breakfast [in Moscow] with 18 representatives of British companies, I said to them — hands up those of you who think we owe to continue sanctions against Russia. Not a single person put the hand up…[They] understand that this business has been taken up by Chinese and Indian competitors. The Russians are changing their domestic economy to become more self-reliant in certain areas, that is making exports in the future even more difficult," Kawczynski told RIA Novosti after his visit to Russia.

Kawczynski noted that, in his view, to continue the sanctions against Russia was a very bad idea and that he had been glad to receive support from the representatives of the British business in Russia.

The West has introduced several rounds of sanctions against Russian since 2014, accusing Moscow of meddling in Ukraine's internal affairs and fueling the conflict in the southeast of Ukraine, however Russia denies the allegations and has responded to the restrictive measures with a food embargo.

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