ANNOUNCEMENT 28 Jan 2014In January 2014, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
On January 28, 2014, the Government of the Russian Federation (according to Resolution 83-p) approved the allocation of subsidies for the partial compensation of interest payments on short-term loans. The state support is at the amount of RUB 3.4 billion (USD 95 million) for the agricultural and RUB 3.7 billion (USD 100 million) for the animal breeding sector.
As declared by Russian officials on various occasions (see the provided sources), foreign companies must not benefit from Russian subsidies. 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.