Elena Fastova: 2.5 Billion Rubles Paid to Farmers Affected by Late Spring Frost

Following the late spring frost in May, farmers from the impacted regions have sought RUB 2.5 million in insurance reimbursements under emergency conditions. Of this, RUB 946 million has already been paid out, Elena Fastova, Deputy Minister of Agriculture of the Russian Federation, informed Rossiyskaya Gazeta during an interview. 

“Claims totaling 2.5 million rubles have been filed to date, with approximately 946 million rubles already paid out, and the sum of disbursements continues to increase daily,” said Elena Fastova.

She reminded that a state of emergency was declared across 10 regions following the late spring frosts in May. This made insured local farmers eligible for emergency insurance payments.

“Payments have to be processed within a 10-day window. However, insurance companies are making efforts to reduce this timeframe by eliminating unnecessary paperwork, potentially shortening the wait to just a few days,” the deputy minister emphasized. She also noted that about 5 billion rubles have been allocated this year to cover insurance payments.

“We encourage farmers to secure insurance for their crops and livestock. Possessing such insurance elevates the rate of national subsidy along with other options for financial support. Furthermore, we are committed to improving the quality of the insurance offerings. Negotiations with insurance providers are ongoing to lower tariffs and on the number of agreements featuring high deductibles,” Elena Fastova said.

She reminded that in 2023, over 11 million hectares were insured, surpassing 14% of the total cultivated area. “This represents a record, nearly doubling the figures from the previous year. Out of these, 4.3 million hectares were specifically insured against emergencies,” the deputy minister stated.