Russian exporters of military products, today, are operating in a new reality and payments for defence deals in U.S. dollar and euro have been reduced to a minimum and they are adopting various measures to offset the impact of sanctions including switching to payments in national currencies, according to Dmitry Shugaev, Director of the Federal Service for Military-Technical Cooperation (FSMTC) of Russia.
“In connection with the current political events, certain logistical problems may arise, which entails changes in the timing of the supply of military products to foreign customers. However, the measures we are taking together with partners, including the Indian side, to find and implement alternative ways of supplying military products will neutralise the barriers erected by Western countries against Russia in the field of military-technical cooperation,” Mr. Shugaev said in response to a question from The Hindu.
Elaborating on the steps being taken to streamline payments, Mr. Shugaev said Russian “countermeasures” against sanctions consist of a tailored approach to each of their customers, offering attractive conditions when concluding contracts, adjusting the payment forms and “providing more flexible schemes, abandoning the dollar and switching to other currencies, including national ones.”
