The government extended the subsidy program for shipping companies until 2025

Russian Prime Minister Mikhail Mishustin announced that the government is extending the program to subsidize shipping companies for two years, until the end of 2025. The program assumes that the state compensates up to 75% of the cost of paying lease payments and interest rates on loans for the purchase of civilian ships.

During meetings with Deputy Prime Ministers, Mr. Mishustin recalled that Russian President Vladimir Putin instructed the preparation of financial mechanisms that will lead to an increase in orders for modern ships in the Russian Federation.

“To increase the load of domestic enterprises, so that there are more high-tech jobs. To further stimulate demand, the government is extending the program to subsidize shipping companies for another two years,” the prime minister said.

Subsidies are provided to upgrade the Russian fleet with ships built in Russia. The government also retains the option to purchase civilian ships on an installment plan. More than $3 billion rubles are allocated for subsidies.

Lusine Balasyan