20:09 GMT +323 March 2018
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    Russian government sets up export support rules

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    MOSCOW, August 4 (RIA Novosti) - Prime Minister Mikhail Fradkov signed a document July 29 approving rules for guaranteeing support of the country's industrial production export, a government spokesman said.

    The rules define procedures for granting state guarantees in foreign currency to Russian exporters of goods and services (according to the list approved by the government), national and foreign banks, credit institutions that provide loans to Russian exporters along with foreign importers and non-resident banks and foreign governments on Russian industrial export deals.

    The Russian Finance Ministry will provide the guarantees under agreements made on behalf of the government with federal budget financing on credit from Roseksimbank and on compensation for bank guarantee payments.

    The regulation limits any state guarantee granted by the Finance Ministry to $10 million.

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