The financial support system for Sukhoi SuperJet 100 (SSJ 100) project is stable and sanctions against United Aircraft Corporation (UAC) imposed by EU will not affect it, RIA Novosti reports with reference to Deputy Minister of Industry and Trade, Yuri Slusar.

EU limited access to European capital market for a number of Russian companies and financial institutions, including UAC and Vnesheconombank. The sanctions ban lending to these companies for a period longer than 30 days. The sanctions were imposed on Spetember 12th, after that UAC vice-president for economics and finance, Dmitry Eliseev, said that the sanctions will not make significant impact on the corporation’s financial activities.

"All of our parameters are defined by the state program. We hope that macro-economic risks will not affect the financial activities (export contracts for delivery of SSJ 100). In this case the funds are allocated to a buyer (an airline) instead of UAC. We hope that all of our plans related to promotion of this product at the global market will be implemented", — Slusar said.

UAC itself does not lend money in foreign countries, he added. "Most of UAC’s credits were granted by the Russian banks. Moreover, in most cases Russian Federation provided UAC with state guarantees for these credits. UAC has never had and does not have any funds provided by foreign financial institutions. We do not expect any risks here", — the Deputy Minister said.

At present, the interest rate for an aircraft loan is 2-3% in foreign countries. In Russia it was about 10% until quite recently. However, two years ago Vnesheconombank offered a new mechanism with the participation of its branches: EKSAR insures risks, Roseksimbank provides buyers with state guarantees – these measures helped decrease the interest rate to 5,5%. In addition, EKSAR in cooperation with export credit agencies of Italy and France (Sace and Coface) provided the consolidated insurance.

Sukhoi Civil Aircraft Company is a subsidiary of Sukhoi Holding Company (part of UAC), which owns 75% of SCAC’s shares. The rest shares are owned by Alenia Aeronautica (Italy).