We investigate random interlacements on $\mathbb{Z}^d$ with $d \geq 3$, and derive the large deviation rate for the probability that the capacity of the interlacement set in a macroscopic box is much smaller than that of the box. As an application, we obtain the large deviation rate for the probability that two independent interlacements have empty intersections in a macroscopic box. We also prove that conditioning on this event, one of them will be sparse in the box in terms of capacity. This result is an example of the entropic repulsion phenomenon for random interlacements.