Russia Planned Discussion With Industry About Sanctions Risks, Report Says
The Russian government planned to meet with about 100 domestic electronics manufacturers, consumers and financial firms Feb. 12 to discuss methods to avoid various trade restrictions imposed by foreign countries, according to an unofficial translation of a Feb. 11 report…
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from the Russian daily Kommersant. The talks, planned as Russia prepares a military invasion into Ukraine, were expected to include a “strategic session” on how the Russian companies can “diversify import channels” to mitigate the restrictions. Officials were to speak about “adjusting measures to support electronics manufacturers, developing independent chip production in Russia, as well as the prospects for import substitution in the segment of laptops, workstations and servers,” the report said. Companies expected to participate include SberBank, Rostelecom, Baikal Electronics and Rostec. The U.S., the European Union and others are preparing a new set of export controls and sanctions against Russia if it further invades Ukraine (see 2201250042).