Indus ministry sees Russian industries unhurt by new US sanctions

MOSCOW, Aug 22 (PRIME) -- Washington’s ban on exports of dual-use electronics and component parts to Russia under its new sanctions will hit some industries, but the damage will not be critical, the Industry and Trade Ministry said late on Tuesday quoting Minister Denis Manturov as saying.

The U.S. imposed new anti-Russian sanctions on August 8 to punish Moscow for alleged involvement in poisoning of the Skripal family in March in the U.K. The first package, which includes a ban on supplies of dual-use goods and services to Russia, is to come in force on Wednesday.

“The ban on exports of dual-use electronics and component parts will definitely cover some hi-tech industries, including the military, but it won’t inflict critical damage. Sales of foreign hi-tech goods of the military and space class to third countries are limited anyway,” Manturov said as cited by the ministry.

“No one sold the most up-to-date electronics to us before. A full ban may hurt come companies, but we will try to provide maximum possible support to them. We have been preparing for this situation for a long time, and developed more than 1,500 types of electronic component bases over the past six years through different federal target and state programs.”

Moscow has developed retaliation measures that should neutralize the impact from actions of the U.S., and plans to substitute electronics and components with locally produced goods or with imports from Southeast Asia, he said.

End