Currency converter
^
All news
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Russia mulling 'target purchases' as a way to bolster companies hit by US sanctions

April 18, 16:15 UTC+3 MOSCOW

In accordance with the draft law, the government "is vested with the authority to introduce some measures, both economic and political ones"

Share
1 pages in this article
Russia's Industry and Trade Minister Denis Manturov

Russia's Industry and Trade Minister Denis Manturov

© Stanislav Krasilnikov/TASS

MOSCOW, April 18. /TASS/. The Russian government may support the enterprises slapped by the US sanctions by purchasing their products, Industry and Trade Minister Denis Manturov said in an interview with Rossiya 24 TV channel on Wednesday.

When asked what measures the government is going to take to support the sanctioned enterprises, the minister said:

"First and foremost, we should provide the enterprises that came under sanctions with working capital. The state can do it via target purchases. It can be done in car making industry, metallurgy and energy sector, especially considering that the energy sector faces a large-scale upgrade."

On April 6, the United States announced imposing new sanctions against a number of Russian officials, businessmen and companies. Washington imposed sanctions on seven Russian entrepreneurs, 17 state employees and heads of state corporations, as well as against 12 private companies and two government agencies as a response to the "malicious activities" of the Russian government. Moscow promised to retaliate.

On April 13, the bill "On measures for influencing (countering) unfriendly actions by the US and (or) other foreign states" was submitted to the State Duma, lower house of parliament,

In accordance with the draft law, the Russian government "is vested with the authority to introduce some measures, both economic and political ones, chiefly directed at the removal by the US of the so-called unfriendly acts." Among them are bans on deliveries of drugs, alcohol, tobacco, agricultural and industrial products, technological equipment and program software. However, restrictions won’t be applied to the medicines which have no domestic equivalents.

Russian counter measures may also concern consulting and audit companies, with the share of foreign participation more than 25%. They may be prohibited from providing services to state-owned companies in Russian.

Also the Russian authorities may ban companies with a share of US capital of more than 25% from taking part in privatization of state and municipal property in Russia.

Show more
Share
In other media
ADVERTISEMENT
Partner News
ADVERTISEMENT