260 civil ships to be built under water transport leasing programme between 2023 and 2027
Russian President Vladimir Putin gave instructions to the Government to approve passports of investment projects co-financed by the National Wealth Fund (NWF) at the rate not exceeding 1.5% per year and providing for construction and leasing out of civil ships on preferential terms. The list of instructions following the meeting with the government members held on 11 December 2022 has been published on the official website of the Kremlin.
RF Government is to implement the instructions by 15 February 2023.
Besides, by 1 March 2023 ,the Government is to provide proposals on revised methods of determining the price for crude oil and oil products applied when setting tax for the oil industry in order to minimize the negative impact on the federal budget revenues taking into account the specifics of indicative price formation amid sanctions.
As Denis Manturov, Minister of Industry and Trade of the Russian Federation said at the meeting with the government members held by Russian President on 11 January 2023, water transport leasing programme can cover the construction of 260 civil ships in 2023‒2027 including tankers, containerships, barges, tugboats and dry cargo carriers. According to him, the fleet renovation programme is estimated at RUB 231 billion. Apart from RUB 10 billion allocated by the budget for subsidizing it foresees allocation of RUB 130 billion from the National Wealth Fund and additional raising of RUB 85 billion.