RF Government to allocate RUB 320 million as support of shipping companies

Under the new order of Prime Minister Mikhail Mishustin, RUB 320 million will be allocated for subsidizing shipping companies involved in sea and river cruises. According to the Government’s statement, those money can be spent for payments under leasing agreements.

The resources will be provided to the Federal Marine and River Transport Agency from the Reserve Fund of the Government. They are intended to support companies which did not undertake massive personnel cuts and companies having no debts in payment of taxes or insurance.

The companies can apply till August 15. The subsidy will be provided as a lumpsum to cover leasing payments from March 11 till December 31.

This measure was proposed by Russian President Vladimir Putin. The companies were forced to stay idle amid the threat of coronavirus. The navigation period remaining after lifting the restrictions will be very short. The subsidies will support the industry participants.

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