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Russia to add electronics firms to list of top companies – report

Customers inspect kitchen stoves at an electronics store in Stavropol
Customers inspect kitchen stoves at an electronics store in Stavropol, southern Russia, December 17, 2014. REUTERS/Eduard Korniyenko (RUSSIA – Tags: BUSINESS)

March 12, 2022

(Reuters) – Russia’s trade and finance ministries will expand the criteria for systematically important companies to include companies in the electronics sector, Deputy Prime Minister Dmitry Chernyshenko was quoted as saying by the TASS news agency on Saturday.

The Russian government on Friday proposed a range of support measures, including some for state-owned company suppliers and the IT sector, to weather the impact of Western sanctions on its economy.

“The most important task for us is to develop our products and accelerate import substitution of foreign imports,” Chernyshenko said.

He said the banking system needs support for companies in the electronics sector.

“There are now concessional loans and subsidized interest rates in all sectors of the economy, and the possibility of concessional lending by regional budgets is also being examined,” Chernyshenko said.

(Reported by Reuters; Edited by Kevin Liffey and Andrew Heavens)

https://www.oann.com/russia-to-include-electronics-firms-on-list-of-essential-companies-report/?utm_source=rss&utm_medium=rss&utm_campaign=russia-to-include-electronics-firms-on-list-of-essential-companies-report Russia to add electronics firms to list of top companies – report

DUSTIN JONES

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