Orders of the Russian Government Dated April 12, 2010, №520-r
Orders of the Russian Government Dated April 12, 2010, №521-r
Debts of Far Eastern fishermen to the federal budget can be restructured
Moscow. April 15. INTERFAX-AFI - The Russian Finance Ministry, the Russian Fishery and Vnesheconombank (VEB) are to prepare amendments to the Law on the Federal Budget with regard to restructuring debts of Far Eastern fish industry companies – freighters of sterkoder vessels- to the federal budget.
The Order of the Government states that the Russian Finance Ministry, the Russian Fishery and VEB are within a month to introduce to the Government a Draft Law “On Introducing Amendments to the Federal Law on the Federal Budget for 2010 and a Planned Period of 2011 and 2012”.
Moreover, VEB, as the agent for the Government, is to be authorized as the pledge holder to transfer title to sterkoder vessels from Ohotsk Fishing Company Limited to Kamchatka-Vostok Fishing Company. The Order also states that these vessels will be granted the right to sail under the Russian flag.
It was reported earlier that Far Eastern freighters of sterkoder vessels would be able to purchase the vessels to become their owners by repaying their debts under credits extended for constructing these vessels within a period of 20 years at an interest rate of 2% per annum. It was also assumed that if the companies fulfilled their obligations without fail, the state would exempt them at the credit repayment date from fines and penalties accrued for several years (in excess of $100 million). The vessels were also planned to be transferred under the Russian flag.
FVS-419 strerkoder vessels were built in Germany in 1993-1995 against the Russian Government’s guarantees. Credits for a period of 10 years for constructing 27 vessels (about $400 million) were extended by the German Bank Kreditanstalt fur Wiederaufbau (KfW).
The borrowers failed to fulfill their obligations under the credits and KfW submitted appropriate claims to the Russian Federation acting as the guarantor. In its turn, in 2001, the Russian Government made a decision to buy out fishing companies’ debts. Vnesheconombank acted as the agent for the Russian Government and the Russian Finance Ministry in the said transaction.
The sterkoder vessels are pledged with Vnesheconombank. Freighter companies have operated these vessels over the past ten years without making any payments to repay credits. “As a result, their total debts amounted to more than $600 million”, the spokeswoman for VEB’s Press Office told Interfax-AFI.
At present, the debt under KfW’s credit is being repaid through using funds of the federal budget; the Russian Federation is to repay the credit in full till 2012, said VEB’s spokeswoman in February of 2010. According to the Government of the Sakhalin region, fishermen’s debt for sterkoders is $256 million.
Under the terms of the credit agreement with KfW the vessels were registered with Cypriot Company Bering Trawler Ltd (this company is 100% owned by the Russian Association, the Union of Collective Fishing Farms and Enterprises of the Sakhalin Region). The problem was that with enacting amendments to the Federal Law on Fishing, sterkoders owned by the Cypriot Companies were deprived of the rights to fish for Alaska Pollack in Russian waters. It was these amendments that forced debtors and freighter into making efforts to repay their debts to the federal budget. “Therefore, the interested parties failed to reach a mutually acceptable decision for more than a year”, said VEB’s spokeswoman.
Under the Order of the Government, in the near future, VEB as the pledge holder would be formally authorized to transfer vessels from Cypriot off-shore companies to Russian owners and this would allow fishing vessels to start fishing in the most immediate future and defuse increasing social tensions in Sakhalin and Kamchatka.
Soon, the Russian Finance Ministry, the Russian Fishery and Vnesheconombank will introduce to the Government a draft law aimed at restructuring debts of owners and freighters of fishing vessels to the federal budget and writing off debts on accrued penalties and fines.
Back
[Bitrix\Main\DB\SqlQueryException]
Mysql query error: (1290) The MySQL server is running with the --read-only option so it cannot execute this statement (400)
REPLACE INTO b_iblock_section_iprop (IBLOCK_ID, SECTION_ID, IPROP_ID, VALUE) VALUES ('4', '7290', '80', 'News')
/var/www/veb/data/www/veb.ru/bitrix/modules/main/lib/db/mysqliconnection.php:137
#0: Bitrix\Main\DB\MysqliConnection->queryInternal(string, array, NULL)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/lib/db/connection.php:330
#1: Bitrix\Main\DB\Connection->query(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/iblock/lib/inheritedproperty/basevalues.php:224
#2: Bitrix\Iblock\InheritedProperty\BaseValues->insertValues(string, array, array)
/var/www/veb/data/www/veb.ru/bitrix/modules/iblock/lib/inheritedproperty/sectionvalues.php:146
#3: Bitrix\Iblock\InheritedProperty\SectionValues->queryValues()
/var/www/veb/data/www/veb.ru/bitrix/modules/iblock/lib/inheritedproperty/basevalues.php:104
#4: Bitrix\Iblock\InheritedProperty\BaseValues->getValues()
/var/www/veb/data/www/veb.ru/bitrix/components/bitrix/news.list/component.php:276
#5: include(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:594
#6: CBitrixComponent->__includeComponent()
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:653
#7: CBitrixComponent->includeComponent(string, array, NULL)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/main.php:1037
#8: CAllMain->IncludeComponent(string, string, array)
/var/www/veb/data/www/veb.ru/local/templates/.default/components/bitrix/news/press-tsent/bitrix/news.detail/.default/template.php:288
#9: include(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component_template.php:720
#10: CBitrixComponentTemplate->__IncludePHPTemplate(array, array, string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component_template.php:815
#11: CBitrixComponentTemplate->IncludeTemplate(array)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:735
#12: CBitrixComponent->showComponentTemplate()
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:683
#13: CBitrixComponent->includeComponentTemplate()
/var/www/veb/data/www/veb.ru/bitrix/components/bitrix/news.detail/component.php:438
#14: include(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:594
#15: CBitrixComponent->__includeComponent()
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:653
#16: CBitrixComponent->includeComponent(string, array, object)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/main.php:1037
#17: CAllMain->IncludeComponent(string, string, array, object)
/var/www/veb/data/www/veb.ru/local/templates/.default/components/bitrix/news/press-tsent/detail.php:70
#18: include(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component_template.php:720
#19: CBitrixComponentTemplate->__IncludePHPTemplate(array, array, string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component_template.php:815
#20: CBitrixComponentTemplate->IncludeTemplate(array)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:735
#21: CBitrixComponent->showComponentTemplate()
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:683
#22: CBitrixComponent->includeComponentTemplate(string)
/var/www/veb/data/www/veb.ru/bitrix/components/bitrix/news/component.php:216
#23: include(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:594
#24: CBitrixComponent->__includeComponent()
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/component.php:653
#25: CBitrixComponent->includeComponent(string, array, NULL)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/classes/general/main.php:1037
#26: CAllMain->IncludeComponent(string, string, array)
/var/www/veb/data/www/veb.ru/en/press-center/index.php:6
#27: include_once(string)
/var/www/veb/data/www/veb.ru/bitrix/modules/main/include/urlrewrite.php:159
#28: include_once(string)
/var/www/veb/data/www/veb.ru/bitrix/urlrewrite.php:2