About Russian Eximbank

Dear Member,
In the letter sent to our Chamber by TOBB, with reference to the letter of the Ministry of Trade dated 06.12.2023 and numbered 91694084, and with reference to the letter received from the Commercial Counsellor's Office in Moscow; it is stated that, within the framework of the foreign trade policies of the Russian Federation shaped in line with recent geopolitical developments, the Russian Eximbank, which is engaged in export financing and has already been placed under sanctions by the USA, has been authorised to finance Russia's imports of various products included in the list of critical products announced by the Russian Ministry of Industry and Trade; that in this context a credit programme has been established by the said bank; that under this programme, expenditures arising from this transaction up to 180 days before the allocation of the loan to the importer directly, or to third parties who will acquire the goods after import or are party to the import contract, can be made subject to the loan, with the maturity extendable up to 5 years; and that the importer can obtain a loan of up to 100% of the total import value from the Russian Eximbank in roubles or other currencies.

The letter further states that the list of critical products determined by the Russian Ministry of Industry and Trade entered into force by Government Decree No. 895 dated 18 May 2022, and that
the said decree can be accessed at https://static.government.ru/media/files/3JceT3PGSqhgCTYLe3fbijLmd7mLNAlI.pdf.

Kind regards,
Elazığ Chamber of Commerce and Industry