Funds to support exports insufficient in 2026 budget, additional funding planned via import duties - Russian Industry and Trade Ministry

MOSCOW. Oct 21 (Interfax) - Russia's Industry and Trade Ministry plans to increase the amount of government support for exports in 2026 relative to the funds allocated in the draft federal budget by using rising revenues from import duties levied on goods from unfriendly countries, State Secretary and Deputy Industry and Trade Minister Roman Chekushov said.

"We currently have 52 billion rubles in the budget for next year [to implement the International Cooperation and Export national project]. We of course believe that this is insufficient. Therefore, in preparation for the second reading, we are already working to supplement the funds allocated for the national project, taking into account the increased customs duties under government resolution No. 2240, which we see is being implemented successfully," Chekushov said at a joint meeting of the State Council commissions for International Cooperation and Export and Industry.

Resolution No. 2240 from December 2022 allows the government to impose increased import duties on a wide range of goods. Import duties of 20%-50% are currently imposed on special equipment, machine tools, weapons, perfume and cosmetics, household chemicals, plywood, spark plugs, batteries, canned goods, sausage and other meat and poultry products, confectioneries, wine, cider and beer, strong alcohol, and several goods. The government periodically expands the list.