Logistics subsidy limit for exporters to be increased to 500 mln rubles, up to 100% of costs to be compensated - Russian PM

MOSCOW. Feb. 6 (Interfax) - The Russian government will increase its maximum subsidies for the transport of products for export to 500 million rubles from the current 300 million rubles, while the timber industry will temporarily increase compensation to 100% if products are shipped through the country's northwestern ports, Russian Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers on Monday.

"It was decided to increase the maximum amount of subsidies for one organization to all industries from 300 million to 500 million rubles," the prime minister said.

"We will also increase maximum compensation for the actual costs of transporting timber industry products from 80% to 100%. The decision will be valid for ports in the Northwestern Federal District until June 30 this year," he said.

Mishustin asked the Russian Ministry of Industry and Trade and the Russian Export Center, which distributes subsidies as part of the measure to support exporters, to respond promptly to requests from companies. First Deputy Prime Minister Andrei Belousov was given personal responsibility for implementation.