ANNOUNCEMENT 14 Nov 2014In November 2014, the government of the Russian Federation announced a change in its trade finance instruments.
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With Decree No. 1204 of 14 November 2014 were approved amendments to the 'Rules for Activities Related to Insuring Export Credits and Investments Against Commercial and Political Risks', governing the operations of the Russian Agency for Export Credit and Investment Insurance (EXIAR).
The new amendments allow EXIAR to finance up to 100% of the insurance value of political or entrepreneurial risks in strategically important export insurance projects. Previously, the maximum possible percentage of insurance value covered by EXIAR varied between 90 and 95. The stated goal of the increase is to boost the competitiveness of Russian exporters.