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How Moscow will help business struck by sanctions

Along with the federal support measures in the face of sanctions pressure, regional assistance is being provided, including in Moscow. The authorities of the capital announced a number of areas in which support will be provided to both businesses and the population. What specific measures can entrepreneurs ...

Benefits for IT specialists will not help to push through Russian import substitution in IT sector

... was set by the order of the Ministry of Digital Development, Telecommunications and Mass Media of Russia (Mintsifry of the Russian Federation). But the dream of the import substitution in IT sector did not come true. Under the conditions of Western sanctions in Russia, the issue of regular supplies of high-quality equipment and raw materials for its production has become acute. In order to provide the domestic processor with its own operating system, the authorities must find a way to provide the ...

Canned fish factories on the verge of bankruptcy

... meat processors (13.5%) have already got, leads to the fact that canned food producers are forced to apply for loans, annually paying for them more than 23%. This leads the industry to collapse and termination of production. Against the backdrop of sanctions, fuel, canning tins and tomato paste have risen in price, Lutarevich notes. The price of vegetable oil has tripled since the beginning of February 2022. Moreover, canning factories are forced to buy these and other ingredients only by advance ...

The Union of Russian Brewers: the country may be left without hops

Russian foamy drink producers are sounding the alarm due to the European and US sanctions imposed on trade operations. Given the volume of hops for the production of alcoholic products, domestic beer producers ... ... Brewers (URB) Daniil Briman, addressed to the head of the Ministry of Agriculture, domestic farmers need an urgent program of state support to establish hop production. Currently, the media outlet reports, only 2% of the hops used in the production of ...

NFIA Analytics: Russian business is losing liquidity

... Russian business is currently realizing the true scale of the consequences caused by the events on the territory of Ukraine. The sanctions imposed by the developed world economies are forcing the Russian government to take an increasingly consolidated approach ... ... to Elena Dybova, who spoke during the round table in the Federation Council, the number of initiatives from SMEs related to state support has already exceeded 11 thousand. At the same time, the vice-president of the Chamber of Commerce and Industry calls ...

Russian authorities promise to support IT amid the flight of specialists abroad

... short term. According to the head of the RAEC Sergey Plugotarenko, up to 70 thousand people have already left the country. Many who intend to leave Russia are currently being held back by the high cost of transport, the problem of bank payments due to sanctions and the search for housing. However, these circumstances are temporary. Already in April, the situation may cause another wave of migration of IT specialists. At a meeting in the profile committee of the State Duma, where representatives of ...

Six-month bankruptcy moratorium will be introduced in Russia

Russian government is developing plans on how to support the country's economy in the current geopolitical circumstances. One of the measures in connection with the imposed sanctions may be a temporary ban on creditors to initiate bankruptcy cases. According to Izvestia, the moratorium may last up to six months. In the non-final version of the plan, developed by the executive branch and received by media outlet, we are ...

How the state will help Russians: taxes, roads and employment

The State Duma will consider a number of amendments to the legislation aimed at the support of the citizens and businesses in the new reality. Information about this was published by parliamentarian Vyacheslav Volodin. Previously, relevant initiatives were proposed by the Government. Amendments to the tax legislation are expected. If all of them are accepted, the citizens of the country will stop paying income tax on bank interest on deposits for this and last year (the tax on interest on deposits...

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