MINSK, 11 April (BelTA) – Sanctions prompt the Belarusian state-run petrochemical concern Belneftekhim to search for new opportunities and explore new options, Belneftekhim Deputy Chairman Vladimir Sizov told journalists on 11 April, BelTA has learned.
Vladimir Sizov noted that on the one hand, restrictions hamper operations in certain markets and complicate the movement of funds, but on the other hand, they act as a challenge that prompts companies to search for new sales markets and suppliers of raw materials, to diversify payment options and currencies used in mutual settlements. This eventually produces the opposite effect - the industry emerges stronger than before, becomes more flexible and adapted to work in much tougher conditions than competitors.
“We are successfully coping with the challenges that arise because of the sanctions. In particular, the USA's sanctions against the concern and its enterprises that were in effect in 2007- 2021 did not lead to a collapse of our foreign economic operations. Our performance did not deteriorate compared to 2007, but our exports even increased, which means that those who imposed these sanctions did not achieve their goals,” he explained.
According to the deputy chairman of the concern, the same applies to the situation that emerged last year, when the U.S. sanctions were renewed and other countries joined them. “Last year our export did not drop, but increased more than 1.5 times compared to 2020,” Vladimir Sizov noted. “This was mostly achieved due to the support from government bodies and the coordinated actions of the industry leaders. The measures that were taken bore fruit and kept us afloat, they helped us withstand this blow and propped up the industry,” he said.
