AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Decree No. 535-p of 14 July 2016 of the Russian Government approved the conditions for allocation of federal subsidies in 2016 for credit and insurance support of the export activities of companies and organisations that belong to the Russian non-extractive sector.
The financial subsidies that are approved with Decree No. 535-p are to be incorporated in the share of the capital of the Russian Federation in the state corporation 'Vnesheconombank'. The official explanatory note to Decree No. 535-p states that the state subsidy to be allocated in 2016 is at the amount of 8.1 billion RUB (ca. 127 million USD as per the RUB/USD exchange rate for 14 July 2016).
This state intervention is an executive legal document related tosub-programme 3: "Development of the national system of support of thedevelopment of foreign trade activities" of the state programme"Development of the Foreign Economic Activity" (attached related GTAreport No. 12 458). Since sub-programme 3: "Development of the national system of support of the development of foreign trade activities" of the state programme "Development of the Foreign Economic Activity" does not indicate any goods that are targeted to be promoted by the state subsidies, the GTA did not indicate any affected HS codes and sectors either.
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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