Russia Lists 199 Major Firms Eligible for State Aid

The list includes energy giants Gazprom, Lukoil, Rosneft, Novatek and Transneft. Sergei Porter / Vedomosti

Russia has put 199 major companies on a list of strategic firms eligible for state assistance under the government's plan to help the ailing economy, the Economic Development Ministry said on Sunday.

Russia is sliding towards recession and Moscow has come up with an anti-crisis plan promising state support for various sectors of the economy but giving few details of any spending cuts.

The ministry said profits of the 199 firms make up 70 percent of the country's gross national income and that they employ more than a fifth of all Russians at work.

The list includes energy giants Gazprom, Lukoil, Rosneft, Novatek and Transneft; retailers X5, Lenta and Auchan; fertiliser producer Acron; mining companies Alrosa and Norilsk Nickel; mobile operators Vimpelcom and Megafon, among others.

Steelmakers Severstal and Evraz, farming conglomerate Rusagro, aluminium producer Rusal, truck maker Kamaz, the indebted coal and steel producer Mechel and state nuclear firm Rosatom are also on the list, as are several airlines and airports.

The companies on the list would have priority in seeking state aid, but it was not clear under what criteria they would be allotted aid if they applied.

Read more