ANNOUNCEMENT 09 Sep 2015In September 2015, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 9 September 2015 the Russian Government approved Decree No. 947. It stipulates the rules for granting state guarantees in 2015 related to debt financing of the company Sukhoi, an aviation holding compnany. The company is the major aircraft holding company in the Russian Federation and employs more than 26,000 people.
The value of these state guarantees is reported to be 600 million US dollars. They secure company's obligations which become due after 1 January 2018.
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.