Russia invests in speciality chemicals industry
Government will pump cash into sector to develop domestic industry, counteract effects of sanctions, and meet demand from military
The Russian government will invest up to RUB17 billion (£230 million) to develop the national speciality chemicals industry during 2017–2020.
This is part of the government’s plans to boost Russia’s military potential, which requires a significant increase in supplies of speciality chemicals for the defence industry. In contrast to previous years, the government plans to pay more attention to high-tech industries. This is mainly due to existing Western sanctions on Russia, which prevent imports of new technology and products to the country.