Russia’s space chief wants to print money to offset sanctions

  • Dmitry Rogozin said Russia may print more money to offset the impact of Western sanctions.
  • The Russian space chief said that inflation can be avoided by replacing frozen funds and investing in technology.
  • In March, Russian President Vladimir Putin said the nation does not need to print money.

Russian Aerospace Chief Dmitry Rogozin said the nation should consider printing more money to avoid the full impact of Western sanctions.

“We can actually release our own investment money,” Rogozin said in an interview. Russia 24 TV channelAccording to the translation of Insider. “An amount equivalent to what is now closed and what is not working now for our economy, we can recreate it. I think it is possible, and we – and those responsible for our finances – should think about it seriously. We can print it and we can give it to our industries for the most powerful investment projects.”

Earlier this year, Western countries To impose sanctions Against the Russian Central Bank, as well as more than a dozen other financial institutions in the country in response to Russia’s attack on Ukraine. in April, mentioned from the inside Russian officials have estimated that about half of its $642 billion in reserves have been frozen due to sanctions.

In the interview, Rogozin said that sanctions are hampering key developments of the Russian space program, including Roscosmos. nuclear powered space locomotive,Zeus. suggested that the space program get “at least a trillion rubles” in printed money or about 15.9 billion US dollars, according to a translation of Insider.

He said that since printed money will only replace assets that have been frozen, Russia will essentially be able to print money without fears of hyperinflation. Despite this, he said, the money should be given to “specific technology and specific factories,” not just people, for each translation of the inside.

The head of the Russian space, who became Increasingly frank since the start of the war, does not have the authority to print rubles. In March, Russian President Vladimir Putin said the nation does not need to print money.

“Our economy and our business have all the resources to achieve all the goals set, and the challenges should only mobilize us,” he said. Report from Reuters.

Russia’s Central Bank Governor Elvira Nabiullina said it could take years for the country to return to inflation high levels to its 4% target. she He said In April, the sanctions could cause long-term changes in the Russian economy.

Rogozin has warned In the past, sanctions from the West could be harmful to the Russian space agency. The space chief has even threatened to end his collaboration with NASA on the International Space Station over sanctions.

In April, Rogozin Russia 24 TV channel That the delivery of computer chips to the agency was affected by sanctions after US President Joe Biden He said The United States will cut off shipments of technical supplies to Russia. Last month , The Washington Post reported Sanctions that cut off exports of key products such as semiconductors have forced Russia to use old hardware parts to repair its military equipment.

It was Roscosmos course to launch Zeus on a mission to Jupiter in 2030, although Rogozin told Rossiya 24 TV that the agency does not have the means to fund the project at the moment. Russia hopes to eventually build its nuclear-powered space station using similar technology.

Rogozin on Sanctions List Both the United States and several European countries. In 2014, he was also accept it Written by former US President Barack Obama, who froze his assets in the United States and banned him from entering the country due to his involvement in the Crimean crisis.