MOSCOW, Nov 26 (Reuters) - High interest rates in Russia are making export contracts unprofitable, Sergei Chemezov, the head of Russian state industrial conglomerate Rostec, said on Tuesday, warning of production slowdowns and bankruptcy risks.
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Chemezov said that exports for products with a long production period in areas like aviation, air defence and shipbuilding may have to be stopped.
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Rostec is an arms maker and I am not crying for Russias arms industry right now.
High interest rates, and a ruble plummeting!
Worst time for exports.
… so far…
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