Russia is resuming the program to support critical companies with the aim of protecting them from international sanctions by reactivating measures introduced in 2020 after the start of the COVID-19 pandemic.
The Russian invasion of Ukraine triggered an unprecedented wave of economic and financial sanctions by Western governments, as well as international companies that suspended or terminated their business in the country or with Russian companies.
The Russian government said in a statement it was proposing a comprehensive package, first introduced as an anti-crisis measure in 2020, to support the economy and business in the face of sanctions.
The measures will include government guarantees so companies can restructure existing loans or contract new ones, as well as subsidies.
Among the sectors that benefited from aid during the epidemic crisis are banks and aviation.
In addition, the Russian authorities have drawn up a list of hostile countries, individuals and companies will be able to repay their debts in rubles, a currency that has lost 45% of its value since January.
This list includes countries in the European Union (EU), Australia, the United States, Canada, the United States, Switzerland and Japan.
