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Russia Considers Subsidies To Boost Russian Made EV Production And Boost The Economy
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Russia ponders using EV subsidies to boost the economy and surge local manufacturing
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By Reuters Staff
2 Min Read
MOSCOW, Feb 3 (Reuters) - Russia’s Economy Ministry said on Wednesday it had drawn up legislation designed to boost investment in the annexed Crimea peninsula, including by granting anonymity to some investors to try to shield them from the threat of Western sanctions.
The bill, if approved, would allow Russians making capital investments of more than 150 million roubles ($1.97 million) in Crimea to keep their personal information confidential.
Russia annexed Crimea from Ukraine in 2014 and backed a pro-Russian insurgency in eastern Ukraine, prompting a flurry of economic sanctions from Western countries.
U.S. and European Union sanctions bar American and European citizens and companies from investing in Crimea, making it risky or even impossible for major international companies to do business on the peninsula.
December 23, 2020
IARN Russia’s Economy Ministry is planning to impose an export tariff on soybean shipments from February 1st through June 30th of next year.
Reports say the export duty will be 30 percent, but not less than 165 euros per ton. Allendale commodities broker Greg McBride says this latest Russian move comes after President Vladimir Putin recently criticized the impact of excessive inflation. The country is now trying to stabilize food prices.
“What we are hearing is that in the same timeframe Russia is going to do an export duty on wheat, they are going to do a 30 percent tax on soybean exports as well,” McBride said. “Normally, we aren’t going to necessarily pay attention to it. This is more just a headline to get excited about. I don’t think the beans at this point need any extra fuel for the fire.”