Support The Moscow Times!

Russia to Subsidize Purchase of Vehicles From Sanctioned Oligarch’s Carmaking Giant

Moskva News Agency

The Russian government will subsidize the National Guard’s purchase of hundreds of armored vehicles and natural gas cars from firms controlled by the sanctioned oligarch Oleg Deripaska, according to a newly passed decree.

Deripaska was named in a list of sweeping U.S. sanctions against major Russian businessmen and structures last April for “malign activities.” The U.S. Treasury Department extended the deadline for Deripaska to reduce his holdings in EN+, Rusal and the car manufacturer Gaz PAO by Jan. 7, 2019.

A decree on the government’s legal portal allocates 2 billion rubles ($30.2 million) for 600 National Guard vehicles and 1.5 billion rubles for the Industry Ministry to buy 1,500 natural gas cars from firms belonging to Gaz.

An explanatory note states that the purchase “will allow an increase in production capacity among sanctioned companies and address national security challenges.”

All 3.5 billion rubles will be allocated from Russia’s rainy-day Reserve Fund that was merged with the National Welfare Fund (NWF) and disbanded as of Jan. 1.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more