April 29, 2014 / 11:12 AM / 4 years ago

Russia's Rostec sees no impact from sanctions on CEO

MOSCOW, April 29 (Reuters) - Russian conglomerate Rostec, which encompasses weapons, cars and metals, said sanctions against its Chief Executive Officer Sergei Chemezov would not impact the company’s activities or be an obstacle for Chemezov in running the company.

Rostec, which has stakes in some of Russia’s largest industries and partnerships with foreign companies, was created in 2007 by Putin from assets of arms exporter Rosoboronexport to boost the non-resources sectors of Russia’s economy.

Chemezov was sanctioned on Monday by the U.S. as part of retaliatory action relating to Russia’s actions in Ukraine. (Reporting by Gleb Stolyarov and Megan Davies; Editing by Maria Kiselyova)

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