Business Groups Breaking With Obama Over Russia Sanctions Threat

Business Groups Breaking With Obama Over Russia Sanctions Threat.

Two top U.S. business lobbies are preparing to publicly break with President Barack Obama over the prospects of more sanctions against Russia after months of quietly raising their objections with the White House.

The U.S. Chamber of Commerce and National Association of Manufacturers plan to run newspaper advertisements June 26 in the New York Times, Wall Street Journal and Washington Post, warning that more Russia sanctions risk harming U.S. workers and businesses, said a person familiar with the plans, who asked not to be identified to discuss private deliberations......



Export Markets
A trade association official, who asked for anonymity because the objections haven’t been raised publicly, said U.S. companies fear that even temporary, targeted sanctions would do long-lasting damage to their export markets in Russia by poisoning relations with Russian customers and raising the cost of future financing as global banks reassess the political risk associated with exports to Russia.

The official said sanctions targeted at even a limited group of large Russian banks would damage export markets for U.S. companies by slowing the Russian economy and making U.S. goods more expensive as the value of the Russian ruble declines.
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