Russia to spend $9 bln to rebuild supply chains, PM says – Reuters

March 15 (Reuters) – Russia plans to spend 1 trillion roubles ($9 billion) on what it refers to as anti-crisis measures, Prime Minister Mikhail Mishustin said on Tuesday, as the government tries to at least partially offset the impact of fresh western sanctions.

The plan includes more than 100 proposals and is to be updated, Mishustin said, to rebuild production and supply chains.

In particular, Russia wants countries forming the Eurasian Economic Union, or Armenia, Belarus, Kazakhstan and Kyrgyzstan, to increase limits for duty-free online purchases, fix the forex rate for import duties and prioritise goods including food, pharmaceutical products and equipment when it comes to custom checks.

Russia was largely cut-off from the global financial system and traditional supply chains after western nations imposed harsh sanctions on Moscow following its invasion of Ukraine on Feb. 24, sending the rouble to record-lows and boosting inflation.

($1 = 110.5070 roubles)

Reporting by Reuters Editing by David Goodman and Barbara Lewis

Our Standards: The Thomson Reuters Trust Principles.


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