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: 30 Jun 2016 | Removal date: open ended
Still in force

Trade finance

On 11 July 2016, the UK Export Finance agency presented its 2015/16 Annual Report. The report included a list of all beneficiaries of trade finance for the given fiscal year.
One of these beneficiares was Russian Federation's JSC Lebedinsky GOK, which was offered buyer credit worth 82.9 million GBP for a contract with Midrex UK Ltd.
Given that UKEF does not provide the exact date that the trade finance deal was signed, the most conservative inception date, i.e. the 30 June 2016, was set as the inception date.
Russia did not import any direct reduced iron (the product of Midrex UK) worth more than 1 million USD from a single country in 2015. Hence, no affected trading partners were selected.

AFFECTED COUNTRIES

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