Russia to take advantage of US sanctions to boost import substitution efforts — envoy

WASHINGTON:  Russia will take advantage of US restrictions to boost import substitution efforts, Russian Ambassador to Washington Anatoly An...

WASHINGTON:  Russia will take advantage of US restrictions to boost import substitution efforts, Russian Ambassador to Washington Anatoly Antonov said, commenting on the White House’s statements about a potential trade embargo against Moscow.

"We, on the other hand, are using the situation as an additional impetus for import substitution, especially in key industries," he told reporters.

According to the envoy, Russia continues to build up its "socio-economic and industrial potential." "The figures on the growth of the national market speak for themselves," Antonov noted.

"No embargo or sanctions will break the Russian economy. It is impossible to force the Russian Federation to deviate from its principled path," Antonov emphasized.

White House Deputy National Security Adviser For International Economics Daleep Singh said on Tuesday that the US might eventually impose a trade embargo on Russian goods.

-News Feed