More than 20 Russian companies have announced the risk of bankruptcy due to sanctions

More than twenty large Russian industrial companies, including representatives of the construction and automotive industries, as well as manufacturers of household appliances, have sent a letter to Anton Alikhanov, head of the Ministry of Industry and Trade, in which they stated that they are threatened with bankruptcy and production stoppage due to the inability to purchase critically needed raw materials abroad, including in so-called friendly countries.

According to RBC, the reason for the fears is the recent, fourteenth package of EU sanctions against Russia, as a result of which the country has stopped supplying important materials from the U.S., Europe, Japan, and recently from China.

This is primarily about polymethylene phenylisocyanates, which are used in the production of refrigerators, car parts, pipes, assembly foams, sealants and flooring. The letter states that in this case the Russian economy is one hundred percent dependent on imports.

The letter also claims that the current stockpile of materials is only enough for two months, and that it has not yet been possible to reach an agreement with suppliers that help circumvent sanctions, particularly from Saudi Arabia.

According to RBC, among those who have applied to the Ministry of Industry and Trade are the companies Technonikol, Beko, Veratek, RusTA and Verakhim.

The fourteenth package of EU sanctions against Russia was adopted on June 24, 2024. It includes a number of clauses aimed at preventing circumvention of previously imposed restrictive measures.

Reprinted from https://www.ekhokavkaza.com/