Russia's Roscosmos Says Failed To Meet 2017 Export Targets Due To Western Sanctions

Russian state space corporation Roscosmos has explained that it failed to implement its 2017 export plan because of Western sanctions, the depreciation of ruble and dumping by Elon Musk's SpaceX aerospace company, according to Roscosmos' annual report released on Friday.

MOSCOW (UrduPoint News / Sputnik - 30th November, 2018) Russian state space corporation Roscosmos has explained that it failed to implement its 2017 export plan because of Western sanctions, the depreciation of ruble and dumping by Elon Musk's SpaceX aerospace company, according to Roscosmos' annual report released on Friday.

"The reasons for the deteriorated competitiveness of Russian space technology in the world market are the obstacles to fitting Russian spacecraft with high-quality imported equipment because of the Western states' sanctions policy as well as ruble's drop in value against global currencies," the report said.

Dumping by private US companies supported by the state, in particular SpaceX with its Falcon rocket launch vehicles, was mentioned among other reasons that prevented Roscosmos from meeting its export targets.

Roscosmos added that it was currently proceeding with import substitution in the sector and reducing transaction costs in order to improve its performance.

The relations between Moscow and the West deteriorated over the situation in Ukraine and Crimea's reunification with Russia in 2014. According to experts, as of 2014 the share of US equipment in the global space industry was 70 percent. After sanctions were imposed on Russia, however, this share decreased significantly.

The Russian authorities have repeatedly stated that the use of sanctions against them was counterproductive and called for normalizing relations. Russia has repeatedly stressed that it was not a party to the Ukrainian conflict, and that Crimea rejoined it following a referendum that was held in compliance with international law.