Translation. Region: Russian Federal
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Coal enterprises will receive additional support, which should ensure their further stable development in the current unfavorable economic situation. This decision was maderesults of the meeting on the situation in the coal industry, which was held by Prime Minister Mikhail Mishustin. The necessary instructions for the implementation of additional measures were given to the Ministry of Finance and the Ministry of Energy.
A targeted approach will be used in providing assistance measures to coal industry organizations, developed by the Government on the instructions of the President.
For this purpose, a decision was made to create a subcommittee to provide financial measures of state support to individual organizations in economic sectors. It will operate within the framework of the Government Commission on Increasing the Stability of the Russian Economy in the Context of Sanctions at the Ministry of Finance. The subcommittee will be headed by Finance Minister Anton Siluanov. It will include representatives of the Ministry of Economic Development, the Central Bank, the Federal Tax Service, the Federal Financial Monitoring Service and other structures.
Together with the Ministry of Energy, the Ministry of Finance will have until June 5 to develop and approve the criteria on the basis of which decisions will be made on the consideration of applications for state support for industry companies.
A number of proposals were made at the meeting, which it was decided to support.
Thus, until December 1, a deferment of the mineral extraction tax and insurance contributions will be granted to all enterprises in the coal industry. If necessary, it can be extended for a longer period by a separate decision of the subcommittee.
Coal industry organizations will be provided with targeted subsidies to compensate for part of the cost of logistics expenses when exporting coal products over long distances.
Another decision concerns the provision of compensation in the amount of 12.8% of the tariff for export transportation of coal in the north-west and south directions to Siberian coal companies. Their list will be formed by the Ministry of Energy and approved by the subcommittee.
On the instructions of Mikhail Mishustin, plans for the financial recovery of enterprises in the industry will be approved, including those providing for assistance from direct beneficiaries (shareholders), as well as restrictions on the payment of dividends, an increase in the salaries of senior management, and cost optimization.
In addition, it has been deemed appropriate to give coal industry enterprises that are experiencing a serious debt burden the opportunity to restructure their credit debt. When working on this measure, the position of the financial regulator, the Bank of Russia, will be taken into account.
Mikhail Mishustin instructed Sergei Tsivilev and Anton Siluanov to take personal control of the implementation of the decisions taken.
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