ANNOUNCEMENT 20 Jul 2016
In July 2016, the government of the Russian Federation announced a change in financial export support.
NUMBER OF INTERVENTIONS
According to a press release of 20 July 2016 of the state Russian Agency for Export Credit and Investment Insurance (EXIAR), it has signed with the state Vnesheconombank a contract for insurance of export financing for Russian SSJ100 aircraft to Western Europe.
The volume of supported exports in the framework of this transaction is to exceed USD 80 million. No concrete export destinations in Western Europe are disclosed.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.