Deadlines for achieving subsidy targets for exporters will be extended

The government has extended the deadlines for reaching the target indicators of subsidies for exporters within the framework of the national project “International Cooperation and Export”. On March 16, 2022, the Government adopted Decree No. 377 “On support for Russian organizations and individual entrepreneurs that were most affected by the introduction of restrictive measures by foreign states, which received subsidies as part of the implementation of the national project “International Cooperation and Export.”

The Decree determines the procedure for changing the target indicators and (or) extending the deadlines for their achievement up to 24 months. This applies to all agreements on the provision of subsidies concluded with Russian organizations before March 31, 2022, the fulfillment of obligations under which occurs after February 22, 2022. This also applies to export support institutions and individual entrepreneurs.

According to the Decree, the recipient of a subsidy may submit an application in writing to the Ministry of Industry and Trade of Russia, the Ministry of Agriculture of Russia or the Ministry of Economic Development of Russia within the period provided for achieving the target indicators of the subsidy, after which the appropriate changes are made to the subsidy agreement.

Support is provided to recipients of subsidies who (due to reasons beyond their control due to the introduction of restrictive measures by foreign states) are deprived of the opportunity to achieve the subsidy targets stipulated by the agreement.