RUSSIA APPROVES FISHING SUBSIDIES

Russia approves fishing subsidies. The Russian government has approved the rules for providing subsidies to domestic fishing enterprises to reimburse up to 30% of the cost of marine fuel when fishing in remote areas.

It will be possible to receive funding in 2021. For these purposes, the federal budget provides 461.5 million rubles.

The marginal cost of 1 ton of marine fuel for  calculating subsidies is set at $ 760 (recalculated to the ruble at the rate of the Central Bank of the Russian Federation).

The timing of the selection of applicants and the procedure for filing applications for state support will be determined by the Federal Agency for Fishery. This information will be published on the website of the department and on the single portal of the budgetary system of Russia no later than August 31st.

Earlier, the head of the Federal Agency for Fishery, Ilya Shestakov, noted that:

“this measure will stimulate fishermen to return to the fishing areas lost since Soviet times and ensure the presence of the Russian fleet in the zones of foreign states and convention areas, and will also increase export volumes.”

In April, the Russian Government made changes to the state programme of the Russian Federation ‘Development of the fishery complex’, providing for the possibility of compensating part of the fuel costs for fishermen. As noted in the state program, with the help of such a support measure, the volume of sold products can reach 4.6 billion rubles.

Source: United Press Service of the Federal Agency for Fishery