Western sanctions already provide major indirect influence on the economy of Russia
The western sanctions are already having the major indirect effect on the economy of Russia, but their direct impact is not observed yet, declared Sergei Storchak, Deputy Minister of Finance, on July 8.
According to him, the effect of the reporting sanctions strengthened due to the fact that the sanctions were coincident with reduction of the rate of growth of the Russian economy.
S.Storchak added that if the situation develops, and the USA and the EU impose sectoral sanctions, Russia will have to prepare more serious countermeasures. To date the Ministry faces many requests from the Russian enterprises which have good export contracts, to provide insurance of the proceeds from the policy and institutional risks, but not from the counterparty default.
You should be authorized to post comment
Russia harvested 2.1 mln tonnes of grains – Ministry of Agriculture
July 3, 11:00
Russia: export prices for new crop milling wheat increased
July 2, 12:20
In 2014/15 MY, Russia significantly increased grain exports to Iran and Azerbaijan – Rusagrotrans
July 2, 11:50
Rosselkhoznadzor to tighten control on food imports to the territory of the Crimea
July 2, 10:10
Russia: Ministry of Agriculture allowed beginning of grain purchasing interventions of the new season
July 1, 15:10
Russia: Ministry of Agriculture to possibly decrease the forecast of grain harvest, due to the weather conditions
July 1, 12:50
Russia: new mechanism for calculation of the export duties on wheat
July 1, 11:00