Russia's sanctions-hit GAZ plans to tackle financial woes with govt support

Russian businessman Oleg Deripaska's GAZ Group is seeking 30 billion roubles ($468 million) in support from the government, citing the risk of a 40 per cent drop in second half output, Kommersant newspaper wrote on Thursday. * The newspaper cited a March 29 letter addressed to Deputy Prime Minister Dmitry Kozak by GAZ's general director Vadim Sorokin saying government funds were needed because of the risk of default and negative socio-economic fallout.

Sanctions-hit van maker GAZ considers the support it currently receives from the state to be insufficient because of its reliance on foreign components, the newspaper reported. * Kommersant cited a government source as saying no decision had been made on the request.

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