ANNOUNCEMENT 20 Feb 2016

The Ministry of Industry and Trade of the Russian Federation announced state subsidies to 15 Russian manufacturers of wheeled vehicles under the framework of partial cost compensation for preserving jobs.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Industry and Trade (2016). ПРИКАЗ МИНИСТЕРСТВА ПРОМЫШЛЕННОСТИ И ТОРГОВЛИ РОССИЙСКОЙ ФЕДЕРАЦИИ ОТ 20 ФЕВРАЛЯ 2016 Г. N 472 'О ПРЕДОСТАВЛЕНИИ СУБСИДИЙ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА РОССИЙСКИМ ПРОИЗВОДИТЕЛЯМ КОЛЕСНЫХ ТРАНСПОРТНЫХ СРЕДСТВ НА КОМПЕНСАЦИЮ ЧАСТИ ЗАТРАТ НА СОДЕРЖАНИЕ РАБОЧИХ МЕСТ В РАМКАХ ПОДПРОГРАММЫ "АВТОМОБИЛЬНАЯ ПРОМЫШЛЕННОСТЬ" ГОСУДАРСТВЕННОЙ ПРОГРАММЫ РОССИЙСКОЙ ФЕДЕРАЦИИ "РАЗВИТИЕ ПРОМЫШЛЕННОСТИ И ПОВЫШЕНИЕ ЕЕ КОНКУРЕНТОСПОСОБНОСТИ"'. (Decree of the Ministry of Industry and Trade of the Russian Federation of February 20, 2016 No. 472 "On granting subsidies from the federal budget to Russian producers of wheeled vehicles to partly compensate the costs of preserving jobs under the framework of the subprogramme "Automotive Industry" of the state programme of the Russian Federation "Development of Industry and Increasing Its Competitiveness"". Available at http://minpromtorg.gov.ru/docs/#!31703

Inception date: 20 Feb 2016 | Removal date: open ended
Still in force

Financial grant

According to the Ministerial Decree No. 472 dated 20th of February, 2016, state subsidies were granted to 15 Russian manufacturers of wheeled vehicles in the total amount of 2.33 billion RUB (30.3 million USD). 

The subsidies were granted to partly compensate job preservation expenses of Russian manufacturers of wheeled vehicles. The subsidies were granted under the frameworks depicted by the Resolution of the Government of the Russian Federation of January 15, 2015 No. 32 and by the Decree of the Ministry of Industry and Trade of February 14, 2014 No. 180. The general framework is based on the objectives of the subprogramme "Automotive Industry" of the State Programme of the Russian Federation "Development of Industry and Increasing Its Competitiveness". 

Government subsidies to Russian manufacturers of wheeled vehicles preserve jobs and employment of workers in the automotive industry and related industries, therefore stabilising the production and sales of Russian-made vehicles. 

AFFECTED SECTORS