Putin’s daughter to help economy beat sanctions

Bloomberg

Russian President Vladimir Putin’s younger daughter has been handed a new role with the country’s most powerful business lobby to help beat the impact of international sanctions over his war in Ukraine, the RBC newspaper reported.
Katerina Tikhonova, who is sanctioned by the US and its allies, was named co-chairman of a committee to coordinate import-substitution efforts by the Russian Union of Industrialists and Entrepreneurs, known as RSPP, the Moscow-based newspaper reported Wednesday. It cited a copy of the body’s document on the decision and said the RSPP’s press service confirmed the appointment.
The RSPP’s press service declined to comment when contacted by Bloomberg. RBC reported that a spokesperson for Innopraktika, which manages the National Intellectual Development Foundation where Tikhonova is a top executive, said she hadn’t yet agreed to the appointment. The body didn’t immediately respond to a request to comment.
Putin has emphasized the importance of Russian businesses replacing foreign goods and services with domestic alternatives since the US and Europe imposed sanctions after his 2014 annexation of Crimea. Russia’s invasion of Ukraine has prompted unprecedented levels of sanctions and a mass exodus of foreign investors, threatening a drastic slump in output in many sectors of the economy.