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Kremlin says any counter sanctions to take account of investor sentiment

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Kremlin says any counter sanctions to take account of investor sentiment
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MOSCOW (Reuters) – Kremlin spokesman Dmitry Peskov said on Thursday that any Russian counter sanctions against the West would take investor sentiment into account and played down worries they would hurt the economy.

Peskov made his comments when asked by reporters on a conference call if a draft law proposing jail time for people who enforce U.S. sanctions against Russia would hurt the investment climate if implemented.

German Gref, the head of Russia’s biggest bank Sberbank, has warned the proposed law would backfire on the Russian economy if approved in its current form.

“In the current case, there is not yet any definitive clarity about the implementation of these new regulations, but in any case the issues of viability and supporting an attractive climate for investors will of course always be taken into account,” said Kremlin spokesman Dmitry Peskov.

“It’s often the case that the implementation of some regulations cause concern, but it frequently turns out that these concerns are not confirmed during the implementation process.”

(Reporting by Maria Tsvetkova; Editing by Andrew Osborn)

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