Attempts by Russian state companies to replace Western creditors in the East, particularly in China, has not led to the expected success, according to “Kommersant”.
Russian business has dramatically changed the course of its development after the introduction of anti-Russian sanctions by the West.
“Despite the fact that virtually no installation “turn to the East” from the government was not, and the first Vice-Premier Igor Shuvalov even denied its existence, the interest of the Russian bureaucracy China has increased significantly,” – said the head of the Asia program of the Carnegie endowment Alexander Gabuev.
In fact, most Chinese credit institutions maintaining relations with representatives from the U.S., decided to join the sanctions against Russia. The only exception was the ExIm Bank and China Development Bank, which is essentially the analogues of VTB and Vnesheconombank.
According to the Executive Director of the Business Council Russia – ASEAN Victor Tarusina, many Russians were forced to close their accounts in Chinese banks and keeping money in other places.
In connection with the failed “turn to the East” and the lack of creditors “Gazprom” has made decision to return annual investor Day in London and new York. Last year the event was held in Singapore and Hong Kong.
“The indecision and conservatism of Asian investors, as well as limited volumes of the Asian financial market caused the postponement of the Day investors in London and new York,” said the representatives of “Gazprom”.
