ANNOUNCEMENT 29 Dec 2012In December 2012, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Order 2610- of December 29, 2012, http://government.ru/gov/results/22341/
On December 29, 2012, the Government of the Russian Federation approved Order 2610- with which it authorises Vnesheconombank (Bank for Development and Foreign Economic Affairs) to finance and provide financial guarantees to organisations involved in the implementation of tasks of state defence orders and federal programs in the field of defence and security.
The protectionist elements of present the state measure should be analysed in connection with the Federal Law FZ 275 (GTA measure Nr. 4060). With this law the Russian government limits the access of foreign producers of arms and military equipment in Russian state defence orders. Foreign manufacturers are not allowed to be the prime contractor in such orders. Consequently, the loan recipients and beneficiaries of the financial guarantees of Vnesheconombank will be Russian companies.