Government Commission on improving the sustainability of the Russian economy has approved a list of essential businesses eligible for timely budget support amidst the financial situation related to oil prices and the pandemic. EUROCEMENT Group, Siberian Cement, Magnezit Group, JSC Borovichi Refractory Plant and several other enterprises engaged with the construction industry. The list includes a total of 646 public and private organizations.
The draft government resolution prepared by the Ministry of Economic Development indicates six-month moratorium on bankruptcy likely to be applied to the companies in the “support” list.
The list of the essential enterprises of the Russian economy was first approved in 2008 (about 300 organizations, including cement producers), when large companies were cut off from credit resources due to the financial crisis. Companies on the list may request financial assistance.
