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: low rates of grain exports to break the planting campaign terms – A.Zlochevsky
In January 2017, Russia increased agricultural production - Rosstat
Crimea to increase production of milling wheat
Russia has sufficient volumes of high-quality flour for bread production – Ministry of Agriculture
February 21, 17:00
Russia: in the third week of February, Krasnodar Krai seaports increased foreign shipments of grains
February 21, 13:40
Russia: Ministry of Agriculture expects for stable grain production volumes in 2017 – A.Tkachev
February 21, 12:00