Rostec intends to revise its goals and objectives and focus on the production of goods and the provision of essential services. This was stated by the head of the state corporation Sergey Chemezov at a meeting with the staff of Rostec.
“We will review the goals and objectives of the corporation, the focus will be on essential goods and services that are vital for the country today,” said Mr. Chemezov (quoted by TASS).
He called the restrictions imposed against Russia serious. At the same time, Mr. Chemezov believes that the sanctions imposed in 2014 due to the annexation of Crimea to Russia made it possible to use many goods that were previously purchased abroad.
Also, the head of Rostec is convinced that Novikombank, the main bank of Rostec, which fell under the sanctions, is working stably. “All your funds will be protected. Large reserves have been created that exceed the volumes indicated in the bank’s vaults,” Mr. Chemezov stated.
On February 26, the European Union expanded the sanctions lists against Russian companies, including, in particular, the Rostec Corporation, Irkut, KamAZ and Russian Railways. In addition, in June 2021, the Ukrainian authorities imposed sanctions against Sergei Chemezov personally.
For more information on how the Russian government intends to adapt to the sanctions, read the material “Kommersant” “Pills from sanctions are the same.”