The state Duma recommended to allocate funds placed under US sanctions for Russian companies

The state Duma recommended to allocate funds placed under US sanctions for Russian companies

Moscow. May 11. INTERFAX.RU. The state Duma recommends to the government to allocate funds from the budget in the years 2019-2021 to support companies affected by sanctions the U.S. and other countries, said first Deputy speaker Alexander Zhukov to journalists on Friday.

“We recommend to the government of the Russian Federation resolution of the state Duma in the preparation of the budget for the next triennium to provide measures of support for the organizations affected by the sanctions,” he said.

According to first Vice speaker, and necessary funds, companies and industries that need assistance to be determined by the government.

Earlier, the head of the Russian Union of Industrialists and entrepreneurs Alexander Shokhin and President of the chamber of Commerce of the Russian Federation Sergey Katyrin has asked the state Duma to develop the legislative mechanism of budgetary support of companies and industries that fell under the sanctions of the U.S. and other countries.

In April the Minister of Finance of the Russian Federation Anton Siluanov said that the company came under U.S. sanctions, has requested the liquidity amounting to about 100 billion rubles. “Help a number of companies sought in the form of liquidity. I think that may support PSB (on the basis of which the authorities create a reference Bank for defense procurement and major government contracts — Interfax). The assistance can be provided in the form of advance financing. Assume the same recycling companies, placed under sanctions, can be (transferred — if) Pro-actively, and (companies will be able — if) to use the money as “current assets” needed”, — said the Minister.

Among trapped under the sanctions of companies dominate the structure of Deripaska’s RUSAL, En+ group, GAZ group, Agroholding “Kuban” Basic Element Ltd, B-Finance Ltd, “the EuroSibEnergo”, “Russian machines”. In the “black list” also included Renova group Vekselberg, NPV Engineering and “Gazprom Burenie” Rothenberg, “Ladoga Management” Shamalova and the Bank of RFK (belongs to the “Rosoboronexport”, which too was under sanctions).