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MOSCOW, April 23Russian companies need to adapt to the new reality as quickly as possible and develop domestic production, but if the launch of projects is not feasible in terms of demand, look for suppliers in friendly countries; in some sectors, current stocks of equipment will last for two or three years, Yakov Sergienko, a partner and head of the consulting company Yakov and Partners (partners of the former Russian division of McKinsey), said in an interview.
«Companies need to adapt to the new reality as quickly as possible and develop production in Russia or look for suppliers in friendly countries if demand in the domestic market cannot justify the deployment of its production in our territory,» Sergienko said.
Speaking of which industries were the most vulnerable to sanctions, he noted those that were tied to foreign suppliers, such as the automotive industry.
“At the same time, in the field of microelectronics, there is an interesting phenomenon — the industry itself suffered, but domestic players, on the contrary, only benefited from an increase in orders. You also need to understand that the sanctions did not fully affect those industries that may be most vulnerable to impact «This is, for example, pharmaceuticals and agriculture. In the event of the introduction of full-scale blocking sanctions, these industries can be very vulnerable,» Sergienko explained.
As for those companies that were already under sanctions until 2022, but not so extensive, they have a certain margin of safety, the expert is sure. “They have accumulated certain stocks of equipment and can still work on it. But this stock will support them for another two or three years, and if they do not find alternatives or do not develop their own production, this situation may create inconvenience for them. This, for example, is our oilfield service industry,» the expert said.