ANNOUNCEMENT 04 Aug 2015

In August 2015, the government of the Russian Federation announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 Jan 2016 | Removal date: open ended
Still in force

Instrument unclear

On 4 August 2015 the Russian Government approved Decree No. 793. It introduced the federal target program "Socio-economic development of the Kuril (Kurile) Islands (Sakhalin region) for the period 2016-2025".
 
The planned total budget funding for the Programme is 59.59 billion Russian Roubles (approximately 953.93 million USD as per the official USD/RUB exchange rate for 4 August 2015). The programme is to be implemented on two stages: (I) - 2016--2020; (II) - 2021--2025. Therefore, as an inception date for potential budgetary allocations has been chosen 1 January 2016.

 
The main state support activities in the period 2016--2025 which may affect the international flows in goods, works and services are:
 

  • construction of helicopters (type Mi-8 MTV-1 or equivalent): 1,527.5 million RUB (24.25 million USD);
  • development of the mining complex (production of rhenium concentrate, sufficient to obtain 39.6tons of rhenium per year; obtaining 66 kg gold per year):3,258.18 million RUB (51.71 million USD);
  • development of the agro-industrial complex :394.6 million RUB (6.26 million USD);
  • creation of a Kuril tourist and recreational complex: 1,118 million RUB (17.74 million USD);
  • state support for industrial enterprises producing products from aquatic biological resources in the form of partial compensation of their energy costs: 2,376.2 million RUB (37.72 million USD).

 
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.
 
 
 

AFFECTED SECTORS