IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 11 Dec 2012 | Removal date: 06 Dec 2032

Trade finance

On 29 November 2012, the Russian Government provided state guarantees at the amount of USD 10 billion with maturity 31 December 2032 to the state corporation Bank for Development and Foreign Economic Affairs (VEB) through Decree Nr. 1233. The purpose of the quarantees is to secure the obligations of the Russian Agency for Export Credit Insurance and Investment for insurance contracts related to export credits and investments.
VEB is used in state operations for support of the Russian economy and for management of Russian state debts and pension funds. 

AFFECTED COUNTRIES

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