IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 04 Dec 2014 | Removal date: open ended
Still in force

Trade finance

According to a press report of 4 December 2014, the Russian Agency for Export Credit and Investment Insurance (EXIAR) has insured export shipments of metal products manufactured by Magnezit Group, ENERGOPROM Novocherkassk Electrode Plant, and other companies to the Republic of Belarus. The concrete types of metal products are not disclosed.
As part of this export deal, a buyer credit insurance contract was signed between EXIAR and the Russian privately-owned bank Promsvyazbank. Promsvyazbank undertakes the obligation to set a financing limit of USD 18.9 million to Belarusian Steelworks, the management company of Belarusian Metallurgical Holding Company, in order to pay for the Russian shipments. On its turn, EXIAR undertakes to cover the risks of default under this loan agreement.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

412 Products of iron or steel
7306 Other tubes, pipes and hollow profiles (for example, open seam or welded, riveted or similarly closed), of iron or steel.
730611 Welded, of stainless steel
730619 Other
730629 Other
730630 Other, welded, of circular crosssection, of iron or nonalloy steel
730640 Other, welded, of circular crosssection, of stainless steel
730650 Other, welded, of circular crosssection, of other alloy steel
730661 Of square or rectangular crosssection
730669 Of other noncircular crosssection
730690 Other

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