MOSCOW, August 21. /TASS/. The US ban to export high-tech dual-purpose products to Russia, to come into force on August 22, will affect certain sectors of the Russian economy, but the impact will not be critical, Russian Industry and Trade Minister Denis Manturov said in a statement on Tuesday.
“The ban on exporting dual-purpose electronic devices and components to Russia will undoubtedly affect certain high-tech sectors, including the defense industry, but not critically,” he said.
He added that Russia would replace sanctions-hit electronic components with domestically produced or imported from South-East Asia.
“We have already prepared a package of countermeasures, intended to offset the impact of US actions. As far as electronics is concerned, we will replace the prohibited components by domestically produced ones, or import them from South-East Asian countries. Those markets remain open for us,” Manturov said.
The minister added that restrictions on exports of important components, used in the military and space sectors, are already in place.
“Prior to that, no one sold to us cutting-edge electronic equipment as well. The full ban can possibly affect certain enterprises, but we will try to give them maximum support,” Manturov said.
“We have been preparing for this situation for quite a time,” he continued. “More than 1,500 types of basic electronic components have been developed within various federal programs in the past six years. Domestic enterprises have been developing high-tech basic electronic components, standardized to correspond to various requirements.”
“Until 2020, were will create another 2,000 types of such products, which can be used to replace more than 9,000 foreign-made components,” the Russian minister went on.
Article Sourced via TASS