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Losses from Roscosmos emergency launches in 2010-2018 reach $541.83 mln

The total cost of launches of the federal rocket and space equipment, which will be provided with insurance protection in the period 2019-2021, is about $3.87 bln

© Sergei Savostianov/TASS

MOSCOW, May 28. /TASS/. The economic losses of Russia from 11 emergency space launches in the period from 2010 to 2018 amounted to more than 35 bln rubles ($541.83 mln), including 10.5 bln rubles ($162.55 mln) uncovered by insurance, according a financial and economic justification to the draft resolution of the Russian Government.

"During this period (2010-2018), 11 emergency launches took place. The losses of Russian to more than 35 bln rubles (which is almost 13 times higher than insurance costs)," the document said.

At the same time, due to the insurance tool, Russia returned almost 20 bln rubles ($309.62 mln), which is more than seven times the insurance costs.

"It should also be noted that during this period there were a number of emergency that were not insured. The result of these accidents was the losses of Roscosmos State Corporation in the amount of over 10.5 bln rubles ($162.55 mln), the sources of compensation are not established," according to the explanatory note to the draft resolution of the Russian government.

It was reported earlier that the cost of launches of Russian rocket in 2019-2021 will reach 259.4 bln rubles ($4.02 bln). "The total cost of launches of space rockets in 2019-2021 will reach 259.4 bln rubles ($4.02 bln), including: in 2019 - 72 bln rubles ($1.11 bln), in 2020 - 93.7 bln rubles ($1.45 bln), in 2021 - 93.6 bln rubles ($1.449 bln)," the document said.

The document explained that the cumulative total cost of rocket launches includes both the price of manufacturing rocket and space equipment, as well as the associated costs that form the cumulative cost of vehicle launches.

According to financial and economic rationale for the draft resolution of the Russian government, insurance of space launches from 2019 to 2021 will cost the federal budget 30.8 bln rubles ($477.2 mln).

According to the document, the total cost of launches of the federal rocket and space equipment, which will be provided with insurance protection in the period 2019-2021, is about 250 bln rubles ($3.87 bln). "The volume of expenses for its insurance, taking into account the proposed changes to the resolution of the Russian government will amount to 30.8 bln rubles ($477.2 mln) but will not exceed 15% of the cost of launches, " the document said.

In particular, taking into account the proposed changes to the government resolution in 2019, it is planned to spend 6.7 bln rubles ($103.78 mln) to insure space launches, in 2020 - 11.3 bln rubles ($175.03 mln), in 2021 - 12.7 bln rubles ($196.72 mln).

The Federal Space Program of the Russian Federation for 2016-2025 and the Federal Target Program for the Development of the GLONASS System for 2012-2020, in 2019 includes launches of 19 vehicles.

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