stressed that Peru has a solid economy to mitigate the risks due to the impact of the military conflict between Russia and Ukraine, regarding imported good prices.
The Cabinet member said Peru buys a lot of hydrocarbons from abroad, and although it does not buy oil from Russia, it certainly brings oil from the United States, Brazil, and Ecuador at the international market price.
"If the fuel market were affected, we would have to appeal to the Fuel Price Stabilization Fund; fortunately, there is a solid economy so as to be able to mitigate that risk," Sanchez said in remarks to Canal N.
"We are talking about a significant amount, around US$194 million in exports (to Russia), focused on
fruits and fishery products," he specified.
Regarding imports from Russia, the minister detailed that Peru acquires capital goods, machinery, and supplies for the agrochemical and mining sectors for an approximate value of S/500 million (about US$135 million).
Moreover, he indicated that Peruvian exports to Ukraine merely accounted for 0.2% of the total shipments overseas in 2021.
"It's smaller, it's important too, but we'll still take steps to mitigate (that impact)," he said.