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Russia’s Draft Law On Import Substitution In Shipbuilding Adopted In The First Reading

Russia’s draft law on import substitution in shipbuilding adopted in the first reading

Moscow, Russia (PortSEurope) October 15, 2020 – The State Duma of the Russian Federation has adopted a bill that will stimulate shipping, leasing companies and shipbuilding organizations, including foreign ones, to place orders for ships, including for the manufacture and supply of components in Russia. The acceptance of the first reading in parliament is the first stage of the bill becoming law. The proposal, should
it become law, will enable the Russian government to determine which vessels can be built in Russia with Russian parts with imports being restricted. The aim is to stimulate the local shipbuilding industry. Currently, Russian shipyards are operating at around 40-50% capacity and the government wants to see this number increase. Now the average workload of domestic shipbuilding enterprises is no more than 40-50%. The existing volume of orders does not allow to properly load the Russian shipyards and ensure their profitability. The Duma published a note saying that the bill does not violate Russian obligations under the WTO. The draft bill (in local language) can be accessed here. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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