ANNOUNCEMENT 04 Dec 2015

In December 2015, the government of the Russian Federation announced a change in financial export support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 04 Dec 2015 | Removal date: open ended

Trade finance

According to a press report dated 4 December 2015 of the Russian Agency for Export Credit and Investment Insurance (EXIAR), it provided insurance coverage for exports of Russian fertilisers.

The concrete export financing scheme is as follows:

  • The bank VTB provided a loan at the amount of 100 million USD to 'Uralchem', one of the largest Russian fertiliser producers.
  • EXIAR provided the insurance coverage of this particular export credit (no concrete details of the insurance deal disclosed).

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.

AFFECTED SECTORS