ANNOUNCED AS TEMPORARYNo
On March 12, 2013, the Russian Government approved with Resolution No. 340 the disbursement of subsidies to selected subjects of the Russian Federation (republics and regions).The disbursement amounts to RUB 1.96 billion (USD 63.09 million). The purpose of the subsidy scheme (see related GTA measure Nr 4332 below) is to support the subjects of the Russian Federation to partially compensate the following expenses of crop producers: purchase of elite seeds; acquisition of seeds and delivery to remote Russian regions (for example the Far North); partial reimbursement of expenses related to the maintenance of perennial plant orchards; reimbursement of expenses related to the recultivation of uprooted Russian areas.
This state measure in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of the sectors, including agriculture, facing the most intensive competition from abroad (after the WTO accession) will be considered.
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.
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