Russia’s growing economic problems — the result of falling oil prices and Western sanctions over Ukraine — are beginning to threaten the nation’s efforts to resurrect its decayed space program:
Russia’s federal space exploration agency Roscosmos could be forced to close down or indefinitely delay whole projects due to the worsening economic situation in the country. The plummeting Russian rouble has rendered the agency incapable of planning their spending ahead of time, national daily newspaper Izvestia reported on Monday.
According to Izvestia, Russia’s Gonets satellite system, launched by the Ministry of Defence and intended to restore Russia’s status as a major aerospace power, may not meet its upcoming deadline for government funding from 2016 to 2025.
“Due to the complete unpredictability of prices in November the scientific engineering council was not able to reconcile anything concerning the orbital system of communication Gonets,” the anonymous source from the central strategic planning of Roscosmos told Izvestia.
Roscosmos’s dependence on EU imports for its satellites and other aerospace projects has made it very sensitive to the exchange rate of roubles to the euro.
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