Russia doubles subsidies for domestic civil shipbuilding sector
In response to tightening sanctions and the growing isolation of Russia in the international arena, Russia’s government has decided to double subsidies for the domestic civil shipbuilding sector.
The refusal of foreign partners to honour contracts to deliver various technologies and components required by Russia’s shipbuilding enterprises has created serious problems for the entire sector.
In response, the Russian government has announced plans to double subsidies for civil shipbuilding in 2023, to at least RUB 14 billion (US$182 million). Most of them will be distributed among the leading Russian shipyards.