World meat industry news

Support for businesses, the retired, students,  pharmaceuticals and asset valuations 

Russian President Vladimir Putin has signed a bill providing numerous economic and social support measures amid international sanctions into law.

The law allows the government to raise non-contributory pensions, pension points and the fixed pension payment during 2022, and specifies the procedure for establishing the subsistence minimum and the minimal wage in Russia.

It also liberalizes the procurement of drugs and medical goods in the domestic market, introduces special rules for drug registration, allows the government to adjust terms of pharmaceutical licensing, and envisages restrictions on the exports of certain types of drugs. Russia’s Social Insurance Fund is allowed to procure rehabilitation equipment, such as prosthetic appliances or wheelchairs, from a sole supplier until the end of 2022.

The law allows the government to adjust the rules of admission to Russian higher educational establishments for Russians who have had to stop their education abroad due to the actions of foreign states.

In terms of business support, the law contains several additional provisions. These include the suspension of small and medium businesses and IT companies inspections, while the procedure and terms of public procurements will be liberalized.

The law specifies the application of laws on companies, including the norms of calculation of the value of net assets in 2022, as well as lending laws.

The government will be able to derogate from certain licensing and accreditation norms and legislation in the field of shared-equity construction and intellectual property.

The bill was passed by the State Duma, was endorsed by the Federation Council on March 4, and has entered into law.