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US sanctions had no effect on sales of sole Russian producer of night vision devices

March 03, 11:33 UTC+3 NOVOSIBIRSK
The main problem posed by the sanctions is a risk of suspension of payments, as all currency transactions currently go through US banks
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© Vladimir Zinin/ITAR-TASS

NOVOSIBIRSK, March 3. /TASS/. Sales volume of Novosibirsk company Katod that produces night vision devices and image intensifiers (the main element of the devices) has not decreased after the United States imposed sanctions against the company, Katod Executive Director Sergei Kesaev told TASS Thursday.

"Katod is the only Russian company that produces the latest generation of night vision devices, that are manufactured only by three companies in the world [the other two are working in the US — TASS]," he said.

"It did not affect the sales. The main problem posed by the sanctions is a risk of suspension of payments, as all currency transactions currently go through US banks. So far it did not happen," Kesaev said.

He explained that with the introduction of sanctions the company lost the ability to supply its products to the United States. At the same time, a significant share of the company’s production is exported. Currently night vision from Novosibirsk are in demand in Canada, European countries, China and Southeast Asia.

Kesaev noted that the sanctions have also changed the structure of the company’s sales. Previously, about 40% of the company’s production was supplied under the state defense procurement and acquisition. As of now, the figure rose to 60%.

Katod was included in the sanctions list in September 2015 together with the Tula Instrument Design Bureau, NPO Mashinostroyenia in the Moscow region, and Russian Aircraft Corporation Mig in Moscow.

"For us this means a certain recognition. The Americans, trendsetters in the industry, take us seriously," Kesaev said.

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