The sanctions have caused $ 20 billion damage to the industry of Russia – Ministry of Industry of the Russian Federation

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The damage from the sanctions of the Russian industry could be worth $ 20 billion.

Such an opinion was expressed by Acting Minister of the Industry and Trade of the Russian Federation Gleb Nikitin.

“Damage (of the industry) can be up to $ 20 billion due to rising costs of refinancing on the domestic market and to non-receipt of the corresponding amount of refinancing loans abroad”, – he said.

According to Nikitin, the sanctions were directed mainly against such sectors as oil, gas and defense companies, and that these sectors demonstrate, despite the crisis, a slight increase.

Gleb Nikitin said that the peak of the negative expectations in the Russian industry passed.

Acting head of the Industry and Trade Ministry said that the trend of increasing the number of bankruptcies continued in the first quarter of 2015, but now it has slowed down. “Mass closure of businesses, we do not see,” – said Nikitin.

However, he added, it is too early to calm down – “we are working on anti-crisis measures in the next six months.”

According to Nikitin, the share of imports in the Russian industry for the last six months has fallen by 5%.

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