Russia to Ban Metal Products, Vehicles and Heavy Equipment Imports

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Russia is preparing to prevent the companies that are 50 percent or more owned by the Russian Government from importing vehicles, heavy equipment and metallurgy products. According to the information available, Russia’s state-owned companies will be prohibited from purchasing certain foreign-made industry products that have Russian analogues.

“The restrictions will be recommended to state companies by state representatives on their boards of directors,” a source in the Ministry of Economic Development stated.

In December 2013, Russian Prime Minister Dmitry Medvedev has proposed to limit the purchase of metal products from outside the Customs Union and instructed the Ministry of Industry and Trade and the Ministry of Economic Development to develop initiatives to stimulate the growth of metal consumption.

It should be noted that Russia has introduced a one-year ban on certain imports from the United States, the European Union, Canada, Australia and Norway in response to the sanctions imposed by the West.

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Posted on October 20, 2014, in Auto Industry News, Heavy Industry News. Bookmark the permalink. Leave a comment.

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