- Russia may impose restrictions or a ban on vehicle imports from Western countries, if the U.S. and EU impose additional sanctions on Moscow, Reuters reports quoting the Vedomosti.
- The paper says that the proposals have already been sent to Putin for consideration but no decision has been made yet.
- The new ban, however, would not apply to foreign automakers' production inside Russia. Ford (NYSE:F), Volkswagen (OTCQX:VLKAY), Renault (OTC:RNSDF), Toyota (NYSE:TM) and Hyundai (OTC:HYMLF) all have production facilities inside the country.
- Related stocks: AN, KMX, CRMT, GM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY, OTCPK:MMTOF, OTC:PEUGF, TTM, OTCPK:FUJHY.
Russia may ban car imports if West imposes new sanctions
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