MOSCOW, November 20. The inclusion of AvtoVAZ in the US sanctions lists led to the refusal of foreign suppliers and banks to cooperate, said the head of the company, Maxim Sokolov, at parliamentary hearings of the Federation Council Committee on Economic Policy.
“»The consequence of this (restrictive measures. — Ed.) there have been new mass refusals of foreign suppliers, sub-suppliers, financial institutions and banks from cooperation with our auto industry,” he noted.
As Sokolov clarified, AvtoVAZ payments are blocked by banks of both unfriendly states and friendly ones .
He also added that, despite the sanctions pressure from the West, the concern is reaching large-scale production targets and creating new Lada models.
The Russian automaker fell under the American restrictive measures in mid-September 2023. Then Sokolov emphasized that the restrictions of Western countries as a whole will not affect the production of cars, although problems with the supply of some components will remain.