April 18, 2019 / 8:28 AM / 7 months ago

MEDIA-Russia's sanctions-hit GAZ seeks more government support - Kommersant

* Russian businessman Oleg Deripaska’s GAZ Group is seeking 30 billion roubles ($468 million) in support from the government, citing the risk of a 40 percent drop in second half output, Kommersant newspaper wrote on Thursday.

* The newspaper cited a March 29 letter addressed to Deputy Prime Minister Dmitry Kozak by GAZ’s general director Vadim Sorokin saying government funds were needed because of the risk of default and negative socio-economic fallout.

* Sanctions-hit van maker GAZ considers the support it currently receives from the state to be insufficient because of its reliance on foreign components, the newspaper reported.

* Kommersant cited a government source as saying no decision had been made on the request. -- Source link: bit.ly/2Pfmg8l -- Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 64.1055 roubles) (Reporting by Moscow newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below