“If foreign economic activity stops tomorrow, the national economy will shrink twice, we will just physically stand up,” RBC quotes the businessman.
According to him, almost half of the country's budget depends on oil and gas exports, and the economy is closely integrated into the world one.
If the opportunity to export disappears, the oil and gas industry, mechanical engineering, metallurgy will stop, he said.
In addition, Mordashov noted, the hardest blow will be dealt to the Russian consumer.
He acknowledged the need to protect the domestic market, but stressed that autarky (an economic regime of self-sufficiency of the state, in which the external trade turnover is minimized) is impossible in Russia and "will turn into a complete economic catastrophe."
Earlier, the World Bank predicted the growth of Russia's GDP in 2021 by 2.6%.