Support The Moscow Times!

Protectionist Restrictions Make Russian State Purchases 40% More Expensive

Russia's state purchases have become 40 percent more expensive since the country imposed restrictions on foreign purchasing last year, the RBC news website reported Tuesday, citing Deputy Economic Development Minister Yevgeny Yelin.

Russia's protectionist measures have led to losses for the state budget and will result in a decline in the quality of goods, Yelin said.

He said it is necessary to create a mechanism that will limit budget losses and also impose time limits on the restrictions.

The restrictions on foreign purchases currently affect 420 foreign goods, Yelin said, according to RBC.

Russia limited state purchases of foreign-made goods in order to curb reliance on imports in all key sectors of industry amid the country's standoff with the West.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.