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. Last Updated: 07/27/2016

Most Businessmen Calm In Wake of Latest Crisis

Russia's foreign business community appears to have taken the recent political crisis in stride, reacting to threats of civil war and presidential impeachment like seasoned veterans.


"I've seen so many ups and downs, I've been here too long to worry", said David Stone, Moscow representative for the British-based Cargo International Services Ltd.


Stone, who has worked in Russia on and off for the past 23 years said that his company still plans to open a warehouse at Sheremetyevo Airport next month.


But Jacob Lustig, president of the Quebec-based Commerce International TJL, said he has stopped plans to create a large frozen pastry manufacturing plant in Moscow, like one he helped to build in St. Petersburg.


"I feel it's safe here, but I changed all of my plans during the last 10 days and will wait until after the referendum", Lustig said.


"I was here during the August (1991) coup and I think it could happen again", he said. "Conservative groups wont give up so easily and people paying 2, 500 rubles a kilo for sausages don't understand reforms".


However, some companies blamed the media for sensationalizing the political situation and Western diplomats reported fielding an unusually high number of calls from anxious headquarters offices back home.


"I was more worried about the media coverage in the West", said Peter Sheshko, vice president of the Toronto-based Phargo Group, which runs business printing services and hotel gift stores in Moscow. "British headlines like, 'Civil War in Russia', made people panic more".


He added, "Everybody worries, but people should realize that Russia works in different ways than the Western world and oversensationalizing makes things more difficult".