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Law on state support measures for shipbuilding and navigation

November 7, 2011

Dmitry Medvedev signed the Federal Law On Amendments to Certain Legislative Acts of the Russian Federation Related to the Implementation of State Support Measures for Shipbuilding and Navigation.

The Federal Law specifies a legal mechanism for creating conditions to attract vessel owners to operate under the State Flag of the Russian Federation and register those ships in the Russian International Register of Vessels. The law also aims to encourage Russian vessel owners to modernise their fleets and place new vessel construction orders with Russian shipbuilders.

For this purpose, the law specifies a list of vessels that can be included in the Russian International Register of Vessels.

The owners of vessels built by Russian shipbuilding companies who register with the Russian International Register of Vessels will get additional tax and other benefits.

November 7, 2011