President of Russia, Vladimir Putin, has appointed his daughter, Katerina Tikhonova, to lead the Russian Union of Industrialists and Entrepreneurs’ (RSPP) import substitution coordination council.
As a result of the appointment, Tikhonova will lead Russia’s effort in advancing Russian business in the local and international market. Her appointment is viewed as a rescue mission to help the country amidst sanctions from the United States and its allies.
It should be recalled that the United States cut off Russia from some of its foreign reserves to lessen its financial capability in financing the war against Ukraine after invading Ukraine.
Other sanctions are halting importation of Russia’s oil and gas and preventing Russia from accessing the SWIFT global banking system that is used in transferring money for international trade.
Russia’s production is down amid the sanctions, though Russia’s currency, Ruble, has appreciated against the dollar since the invasion started.
Tikhonova’s appointment came three months after she was included in the United States sanction list. As such, she will co-chair RSPP, which was founded in June 1990.
The 35-year-old, who has worked as a tech executive offering support for Russia’s defence industry, will extend her expertise tentacles into promoting trade to help in the reviving the Russian economy.
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