The Ministry of Industry and Trade will reduce the number of recipients of transport subsidies to exporters

The distribution of transport subsidies to exporters, as expected, will begin in mid-April, the press service of the Ministry of Industry and Trade told Interfax. The number of subsidy recipients will be reduced.

“We are developing a draft decision of the Russian Ministry of Industry and Trade. The department is working to transition to a more flexible and targeted approach in providing support. It is planned to exclude part of the EAEU HS codes from the perimeter of state support: it will affect only high-margin groups of goods,” the ministry said.

It was emphasized that the innovation will not affect the most important export-oriented industries, in particular mechanical engineering, pharmaceuticals and forestry. The volume of financing of transport subsidies for exports in 2024 will amount to 17.76 billion rubles. In 2023 – 25.5 billion rubles.

Subsidies to cover part of the logistics costs are allocated through the Russian Export Center (REC). According to the current rules, 40% of the total volume of subsidies is allocated to mechanical engineering, 30% to the timber industry, metallurgy, fertilizers, and 30% to the pharmaceutical, chemical and other industrial sectors.

More details in the material “Import and export through the window”.

Alexandra Goroshilova