Putin ordered to build more infrastructure to protect Russia’s metallurgical industry

Russian President Vladimir Putin – Photo: REUTERS

According to Reuters news agency, Putin made the latest call during a meeting with industry officials and business leaders.

President Putin suggested that Russia should increase domestic metal consumption by building factories, infrastructure and houses.

“To support domestic demand for metals, we must launch long-term projects and programs, capable of affecting the entire economy,” Putin said.

Russia is currently the main producer of metals including aluminum, nickel, copper and steel. Russia’s annual export turnover of these items is worth tens of billions of dollars.

The metallurgical industry also provides employment to hundreds of thousands of people in places where jobs are scarce in Russia.

According to Oryxa reputable Dutch website trusted by military experts, metallurgy is also considered an important field at this time, when Russia has lost more than 500 tanks and hundreds of other combat vehicles. in Ukraine.

The West has imposed sanctions against Russia in an attempt to force the Kremlin to withdraw its troops from Ukraine.

These countries have yet to sanction Russian metal producers to avoid supply shortages that could drive up commodity prices, burdening businesses and consumers around the world.

However, their sanctions have targeted shareholders of several Russian metallurgical companies.

This makes the situation of the above companies more difficult when the capital has to face the departure of board members, the inconvenience in paying foreign debts, the problem of importing foreign equipment. outside and stock prices fell sharply.

Many banks, carriers and customers have postponed new investment in Russia and avoided buying and selling metals with Russia, forcing Russian companies to find new supply chains.

Faced with the above situation, Putin said: “There is no reason to believe that the behavior of our partners will fundamentally change.”

“We must change the structure of production and supply of Russian metallurgical products, and call for the expansion of industrial capacity and the range of products that Russia produces,” he stressed.

Mr. Putin said that the “illegal” measures of the West have cut off the market for Russian finished products and prevented Russian manufacturers from buying components.

He criticized this as violating the rules of the World Trade Organization (WTO).