Subsidies to be granted to energy companies

​The Ministry of Energy of Russia suggests compensating 67-90% of the interest rates of loans for operational activity of companies. The Government draft regulation has been developed. It will give an opportunity to reduce the burden of loans on the energy companies in the conditions of high value of loans.

The subsidies can be granted for the compensation of interest rates of loans issued by the Russian banks, attracted for the replenishment of turnover funds and financing of the operational activity from Jan 1st until December 31st 2015.

The enterprises included in the list of core companies can receive the compensation.

The Ministry of Energy suggested compensating 2/3 of the credit rate in the case if it was less than the discount rate of the Central Bank valid at the moment of signing the agreement.