Russian steel giant repays $80M after failing immigration subsidy terms
Vyksa Steel Works (VSW), part of the OMK Group, has repaid over 80 million rubles after failing to meet the terms of a government-subsidised immigration project. The case began when customs authorities found the company had not fulfilled immigration and production targets tied to federal grants.
Enforcement action was taken in early 2024, leading to the recovery of the full amount through court proceedings in the Nizhny Novgorod Region.
The dispute started after an audit revealed VSW had not met key performance indicators for its immigration investment project. The company was required to repay the subsidy and cover an additional fine, bringing the total to over 80 million rubles. When the debt remained unpaid by the deadline, enforcement measures were launched.
Court bailiffs imposed restrictions on the company's operations. These included freezing bank accounts, blocking changes to its EGRUL registration, and limiting transactions involving vehicles and property. VSW's management then requested an instalment plan, which the court approved.
The company settled the debt in stages, while the enforcement fee was deducted directly. By the end of the process, all payments had been made in full, and the enforcement proceedings were closed.
The case has now concluded with VSW fully complying with the repayment order. The company's failure to meet immigration subsidy conditions led to strict enforcement, including financial and operational restrictions. The total recovered amount exceeded 80 million rubles, covering both the original subsidy and additional penalties.
