On March 12, 2013, the Russian Government approved with Resolution No. 328 the disbursement of subsidies to selected subjects of the Russian Federation (towns, republics and regions). The subsidies amount to RUB 18.03 billion (USD 579.98 million) and aim to support small and medium enterprises as well as farmers. The measure is in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of those sectors, including agriculture, facing the most intensive competition from abroad (after the WTO accession) will be supported.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.