MOSCOW, November 23. /TASS/. The US-led West’s sanctions and the exit of foreign companies from Russia have had a minimal impact on the domestic defense industry while the aircraft-and car-manufacturing industries have suffered the most, Rostec CEO Sergey Chemezov told TASS on the occasion of the corporation’s 15th anniversary on Wednesday.
"It cannot be denied that the departure of Western companies has dealt a serious blow. The defense industry has been the least affected while the aircraft-and car-manufacturing industries have suffered the most. For us, this is not a disaster but a window of opportunity. For example, Russian aircraft-building enterprises have got a real chance over many years to capture the market after Boeing and Airbus had left the country forever," the Rostec head said.
As Chemezov pointed out, it can be said for certain that had it not been for the first wave of sanctions in 2014, Russia would have been in a much more difficult position today. Russia’s industry has made great strides in substituting imported components in aviation, medicine, energy machine-building, electronics and other segments, he noted.