Russia restricts foreign equipment purchase for defense industry

Russia restricts foreign equipment purchase for defense industry

PanARMENIAN.Net - The Russian government has put a ban on purchasing foreign-made equipment for its defense industry if there is a locally-made equivalent, according to a statement posted on the government website Thursday, Dec 26, according to RIA Novosti.

The move will help guarantee the technological independence of Russia’s defense industry and support Russian producers by protecting the domestic market, the statement said.

Metallurgical machines and metal casting equipment were among the equipment specified on the list, which goes into effect on Jan 1.

Where such machines do not have a Russian-made equivalent, they will not be subject to value-added tax when imported, the statement said.

Russia’s Trade and Industry Ministry, according to the statement, will be responsible for checking whether such equipment is produced domestically.

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