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Companies hit by sanctions may receive liquidity support — Russian Finance Minister

April 21, 2018, 0:19 UTC+3

"The support can be in the form of advance financing," the minister said

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WASHINGTON, April 20. /TASS/. The government can provide liquidity support for Russian companies hit by US sanctions, Finance Minister Anton Siluanov told reporters on Friday.

"A number of companies requested support in the liquidity form. I think Promsvyazbank can provide support. The support can be in the form of advance financing," the minister said. It can also be rendered in the form of government procurements, he added.

Companies requested "a huge amount, about 100 bln rubles ($1.6 bln)" of liquidity, the minister noted. "We do not intend to give money to the capital. This aid should be directed in the first instance to support labor teams working there," Siluanov noted.

The government at the same time does not see the need to provide for a special item in the budget to help companies under sanctions, the minister said. "We speak about support from the budget but using indirect methods through purchases of products. We do not see any need so far [to have a separate expenditure item in the budget for these purposes - TASS]," Siluanov noted.

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