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 Russia Cannot Afford Extension of Sanctions Against the West - Russian Minister of Economic Development

Economic Development Minister Alexei Ulyukaev believes that Russia cannot afford to impose sanctions against the West in other areas, in addition to food and agricultural products.

He expressed this opinion on air of Echo of Moscow radio station, Censor.NET reports citing UNIAN.

"I am against all the proposals that I heard because I do not see the possibility to create a strong base (in these fields) using reasonable investment and within a reasonable period of time, which would allow not only to provide importation substitution, but also create export potential," the Minister said.

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The counter sanctions, according to him, are not the best way to resolve the situation. He reminded that Russia has applied them yet in one sector - the food and agriculture one.

"We were thinking long and hard of how to improve our own food security and the sanctions helped (to accomplish this task). It was an efficient solution from this point of view," the minister stated.

He added that this decision was taken in a short period of time giving the industry no time to get ready, "but we are getting ready now."

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"I do not see it will work in other sectors. So I do not think its right to expand sanctions to other spheres," Ulyukaev insisted.

It should be reminded that Russia banned the import of products from Western countries in response to the sanctions imposed by them. Thus, the Russians were left without European and American fruits and vegetables as well as cheese, wine, meat products, seafood and other things. In addition, the Russian Federal Service for Supervision of Consumer Rights Protection and Human Well-Being, Rospotrebnadzor banned the import of all confectionery products from Ukraine in September.

 
 
 
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