MOSCOW, September 12 (RIA Novosti) - A new round of sanctions implemented against Russia by the European Union will not have a significant impact on the Russian defense industry, a representative of the Center for Analysis of World Arms Trade told RIA Novosti on Friday.
"The sanctions can be counterbalanced by increasing the credit available to these companies [targeted by sanctions] via largest Russian banks under governmental control. State subsidizing of interest rates on such credits is also an option," the representative said.
"Funds allocated by the government within the State Defense Order for this year and the state arms program up to 2020 will keep the defense companies busy and will shield the enterprises from any influence that the fluctuating Western political climate may have on their economic performance," the source added.
The representative also said that sanctions imposed by the West on Russia are useless since it is impossible to put pressure on Russia, as the Kremlin will see to the implementation of an internal and external policy that protects Russian national interests, regardless of the reactions of certain countries.
On Friday, the European Union announced the introduction of a new round of sanctions against Russia, targeting the country's major defense and energy companies, such as Rosneft, Transneft and Gazprom Neft in the oil sector, and Oboronprom, United Aircraft Corporation and Uralvagonzavod in the defense sector.
The new sanctions prohibit financial cooperation between EU individuals and entities and these Russian companies. An additional 24 people including senior Russian lawmakers and the leadership of the self-proclaimed Donetsk People's Republic are banned from traveling to the EU and subject to asset freezes.
Russian President Vladimir Putin's spokesman Dmitry Peskov said Moscow regrets the EU's decision to impose new sanctions against Russia over Ukraine and views them as illegitimate.
