The Russian government has prepared a 63 billion ruble ($802 million) support package to help the country\u2019s coal sector weather sanctions, falling prices and export hurdles, Reuters reported Friday, citing the Finance Ministry.<\/p>\n
Under the plan, coal companies would be allowed to defer mineral extraction tax payments and certain insurance contributions until Nov. 30, 2025.<\/p>\n
Firms would also receive payment extensions on tax arrears, specifically for negative balances in unified tax accounts as of June 1.<\/p>\n
The Energy Ministry will determine which companies qualify for assistance.<\/p>\n
In a statement, the Finance Ministry said the measures aim to \u201cfree up working capital\u201d for coal producers struggling with deteriorating economic conditions.<\/p>\n
The relief package still requires final government approval, according to the ministry.<\/p>\n
Targeted support is already being provided to select companies through subsidies, loan deferrals and debt restructuring.<\/p>\n
So far, seven firms, including major producers Mechel, Vorkutaugol, SDS-Ugol and Severny Kuzbass, have received individual aid. Together, these companies operate 34 mines, 16 processing plants and 20 industrial support facilities.<\/p>\n
Officials expect to review applications from around 40 additional firms.<\/p>\n
Russia\u2019s coal sector, long a key export industry, has been hit hard by Western sanctions, lower global demand and increased tariffs in China, its largest market.<\/p>\n","protected":false},"excerpt":{"rendered":"The Russian government has prepared a 63 billion ruble ($802 million) support package to help the country\u2019s coal…\n","protected":false},"author":3,"featured_media":75265,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,79,20569,67,132,68],"class_list":{"0":"post-75264","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-finance-ministry","11":"tag-united-states","12":"tag-unitedstates","13":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114879721873388372","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/75264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=75264"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/75264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/75265"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=75264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=75264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=75264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}