/Update/

MOSCOW, August 24. /TASS/. The Russian Government will allocate 7 bln rubles ($117 mln) for development, creation and implementation of critical hull equipment of Russian make, Prime Minister Mikhail Mishustin said on Wednesday.

Introduced sanctions disrupted cooperation ties in many sectors of the industry, including the shipbuilding segment, where difficulties appear with completion of construction of marine tankers, LNG carriers, fishing, passenger and other vessels, primarily due to partners' default on their obligations and impossibility to purchase many components abroad, the Prime Minister noted.

"As instructed by the head of state, the government will allocate seven billion rubles this year for development, creation and implementation of critical hull equipment. This will enable preparation of indigenous conceptual designs for forty types of such items, with an opportunity to appear owing to that to complete construction of more than one hundred ships in recent years with the total value over 500 billion rubles ($8.3 bln)," Mishustin said.

"It is important to use all funds as efficiently as possible. Development of each equipment unit must end with series production with further rollout," he added.