Russia’s Economic Development Ministry sees no risks for the local market from the US import duties, Deputy Minister Azer Talybov said in an interview with TASS.
Russia imposed extra duties amounting to 25 to 40% on import of certain US goods in response to steel and aluminum duties set earlier by Washington, on July 6.
"The government has already adopted a respective decree raising customs duties on import of certain goods originated from the US, particularly, certain types of road construction equipment, oil and gas equipment, metalworking and hard-rock drilling tools, including fiber optics," Talybov said.
"We expect no problems for the local market from the viewpoint of their substitution since there are alternative supply sources. Particularly, today we can say that there are Russian producers able to substitute those products," he explained.