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AKIPRESS.COM - Russia may tighten retaliatory sanctions against western nations to include a ban on imports of cars, among other things, if the United States and the European Union impose additional sanctions on Moscow, The Times of India reported referring to Russia's Vedomosti daily newspaper.
Following Russia's stand off over Ukraine, western nations imposed sanctions on Moscow including on its financial and energy sectors, and put dozens of Russians close to President Vladimir Putin on a sanctions list.
Imported vehicles accounted for 27% of sales of passenger cars in the first half of 2014, for trucks imports accounted for 46%, and 13% for buses, according to Vedomosti.
Russia, which denies allegations it is arming separatist rebels in eastern Ukraine, may thus fully or partly ban imports of cars.
The new ban would not apply to foreign automakers' production inside Russia. Ford, Volkswagen, Ford Renault, Toyota and Hyundai Motor Co all have production facilities inside the country.
Proposals for new measures had already been sent to Putin for consideration but no decision had been taken to prepare any new sanctions yet. New trade restrictions are possible in case western nations impose additional sanctions on Moscow.
Russia has already imposed ban on certain agricultural imports from the European Union, the United States, Australia, Canada and Norway.
The Government could also introduce protective measures in aircraft, shipbuilding and automotive industries.