Russia: EU firms want business with Russia but 'have hands tied' - Putin

Despite the current European sanctions against Russia, President Vladimir Putin has insisted that Russian Nanotechnology Corporation (RUSNANO) should not cut ties with Europe.

Speaking in Moscow, Thursday at a meeting with the CEO of RUSNANO Anatoly Chubais, Putin was adamant that business must not be interupted, stating that many European partners wish to work with Russia "but have their hands tied."

Chubais pointed out that a planned project with the European Bank for Reconstruction and Development had hit a dead end due to European sanctions against Russia, while new Chinese partners have helped to create a seven billion ruble fund for a joint project.

Chubais also said that the company was looking to establish relationships with other Asian partners such as Taiwan and South Korea and hoped that Japanese and other Chinese firms would also take part in new projects.