IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 18 Nov 2015 | Removal date: open ended
Still in force

Trade finance

 On 18 November 2015, the UK Export Finance agency announced it had provided the Brazilian state-oil company Petrobras 500 million USD for the provision of British goods and services.
Similar deals were signed with the Austrian (OeKB), Italian (SACE) and Japanese (NEXI) export credit agencies. In total, Petrobras received 1.84 billion USD in credits.
In the UKEF press release, the UK Minister for Trade and Investment was cited saying "With this arrangement, Her Majesty's Government, through UK Export Finance, is helping UK exporters to realise the opportunities within Petrobras' ambitious investment programme".
In a December UKEF report, the two identified British exporters that would benefit from the signed agreement were Subsea 7 and Wellstream International Limited, a subsidiary of GE Oil & Gas.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.
The official press release by Petrobras was not available, as the company provides access only to registered journalists.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

432 Pumps, compressors, hydraulic & pneumatic power engines; parts
8413 Pumps for liquids, whether or not fitted with a measuring device; liquid elevators.
841311 Pumps for dispensing fuel or lubricants, of the type used in fillingstations or in garages
841319 Other
841320 Hand pumps, other than those of subheading 8413.11 or 8413.19
841330 Fuel, lubricating or cooling medium pumps for internal combustion piston engines
841340 Concrete pumps
841350 Other reciprocating positive displacement pumps
841360 Other rotary positive displacement pumps
841370 Other centrifugal pumps
841381 Pumps
841382 Liquid elevators
841391 Of pumps
841392 Of liquid elevators
444 Machinery for mining, quarrying & construction; parts
8430 Other moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for earth, minerals or ores; piledrivers and pileextractors; snowploughs and snow blowers.
843010 Piledrivers and pileextractors
843020 Snowploughs and snowblowers
843031 Selfpropelled
843039 Other
843041 Selfpropelled
843049 Other
843050 Other machinery, selfpropelled
843061 Tamping or compacting machinery
843069 Other

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