ANNOUNCEMENT 12 May 2015In May 2015, the government of the Russian Federation announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 12 May 2015, a draft bill (Bill 721717-6/14.02.2015)was introduced in the state Duma which, if implemented, would result in a new export subsidy instrument. The bill proposes that Vnesheconombank shall be authorised to finance projects of Russian companies abroad. Currently,Vnesheconombank is restricted to finance projects located on Russian territory only. The bill also stipulates a local content requirement of 30 percent for abroad projects financed through Vnesheconombank.