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Western sanctions hamper return on investment in shipbuilding — Kremlin aide

As Nikolay Patrushev pointed out, maritime transport is one of the key areas of maritime activity, ensuring the transport connectivity of the territory of Russia

MOSCOW, April 30. /TASS/. Nikolay Patrushev, presidential aide and chairman of the Russian Maritime Board, blamed Western sanctions for hampering return on investments in the construction of large-tonnage vessels at Russian shipyards.

"Sanction restrictions aggravate the problem with return on investments made in the construction of new large-tonnage vessels at Russian shipyards," he said speaking at a meeting of the Presidium of the Maritime Board.

As Patrushev pointed out, maritime transport is one of the key areas of maritime activity, ensuring the transport connectivity of the territory of Russia, as well as a large part of foreign trade cargo turnover.

"Western countries have openly declared their intention to oust Russian companies from the maritime transportation system. As a result of the sanctions imposed, our country has been deprived of access to the international system of insurance, licensing and registration of ships. A ban has been imposed on calls and servicing of Russian ships in a number of ports of unfriendly states," the presidential aide stated.