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Russia suspends work of its trade missions in US, Baltic States

Meanwhile, in some countries, in particular, in Saudi Arabia and Mexico, the ministry is stepping up its support, according to the industry and trade minister

Russia's Industry and Trade Minister Denis Manturov Sergei Bobylev/TASS

Russia's Industry and Trade Minister Denis Manturov

© Sergei Bobylev/TASS

MOSCOW, February 25. /TASS/. The Industry and Trade Ministry is to suspend the work of Russia’s trade missions in the U.S. and the Baltic States, Industry and Trade Minister Denis Manturov said in an interview with the NTV television channel on Tuesday.

"As for the Baltic countries, for example, now we are suspending our work there. We are not terminating it because we have state and interstate agreements, but we are pausing our work just to prevent simulation of activities there. We understand how the economy is developing there and how our trade and economic relations are progressing. So it does not require any additional backing from trade missions there," he stated.

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Manturov also noted that a similar situation is observed in the United States.

"The same goes for the United States — we have suspended our work there," he reported.

Meanwhile, in some countries, in particular, in Saudi Arabia and Mexico, the ministry is stepping up its support, the minister added. It is also planned to create regional hubs to back Russian exports.

Speaking about non-oil export plans, the minister noted that the target for this year is $167 billion. "It will be very difficult to implement, and we, of course, set the bar the highest as well as the most ambitious tasks for ourselves and we have created all the tools for this," he added.

At the same time, Manturov said that his ministry will be able to fully meet all the business needs in terms of logistics subsidies to support exporting companies.

He explained that 16 bln rubles ($245 mln) were allocated for these purposes this year, while the ministry received applications for 30 bln rubles ($460 mln), and additional funds can be allocated from those volumes projected for 2021.

"I believe that we will find a solution for such a balance," Manturov said.

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