The Ministry of Industry and Trade did not support the allocation of subsidies to Russian Railways for the transportation of steel

The provision of budgetary subsidies to Russian Railways for discounts on the tariff for steel transportation, which the steel companies asked the government in November, requires additional justification. Deputy Prime Minister, Minister of Industry and Trade Denis Manturov spoke about this in an interview with Vedomosti. Justification, according to him, is necessary to assess “the impact on the increase in exports of metal products and tax revenues of the budget system.”

The current mechanism for compensating the costs of transporting industrial products already gives metallurgists the opportunity to apply for such subsidies from January 1, 2023, Manturov recalled. In addition, Russian Railways now has the opportunity to set reduction coefficients for tariffs for the transportation of metal products, if it sees economic efficiency in this for itself, the Deputy Prime Minister emphasized.