(Financial Tribune, Tehran, 17 June 2018) The German government has set up a special office to advise companies worried about their business dealings with Iran amid fears they will be targeted for US sanctions. The European signatories to a 2015 nuclear agreement with Iran—Germany, France and...
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2018/06/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Transparency
(Bridging & Commercial, London, 21 June 2018) UK Export Finance (UKEF) has revealed that it helped UK exporters – 77% of which were smaller businesses – secure sales to over 75 countries during the financial year 2017/18. In its annual report and accounts, the UK’s export credit agency...
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2018/06/30
Country: Russia
Issue: Oil, Gas and Mining
(Energy Reporters, Istanbul, 20 June 2018) Russian state-run gas monopoly Gazprom has committed to invest US$1.2 billion in exploration and production at the Vitiacua onshore field in southern Bolivia. “This contract will mean an investment by Gazprom of US$1.2 billion, the drilling of two...
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2018/06/30
Country: Russia
Issue: End Coal Financing
(Vietnam Investment Review, Hanoi, 17 June 2018) On January 26, Power Machines, the EPC contractor of Long Phu 1 thermal power plant, was put on the US Department of Treasury’s extended list of Russian individuals and companies subject to sanctions imposed on Moscow over the Ukraine crisis. The...
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2018/06/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
(Express, London, 9 June 2018) Trade Secretary Liam Fox has announced the UK has secured a £1.5 billion trade deal and signed off £75 million in other trade agreements in a major boost for the UK economy after Brexit. Dr Fox is expected to release a new Export Strategy which will set out the...
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2018/06/29
Country: Russia
Issue: Nuclear
(Vestnik Kavkaza, Tashkent?, 4 June 018) Uzbekistan will be the first country in Central Asia to have a nuclear power plant. Rosatom proposes to build a station consisting of two modern VVER-1200 units of 3+ generation. A similar project is being implemented by Rosatom in Bangladesh. It is...
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2018/05/31
Country: France, Germany, Iran, United Kingdom, USA
ECAs: COFACE, Euler Hermes Deutschland AG, UK Export Finance (UKEF)
Issue: European Union, Nuclear
(Reuters, Paris/Brussels, 3 May 2018) France, Britain and Germany all say they will stay in the deal even if the United States withdraws, and try to protect and foster European trade and ECA support with Iran, which has soared since the European Union lifted most of its economic sanctions. Iran...
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2018/04/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: European Union
(EURACTV, Brussels, 6 April 201) It used to be a Eurosceptic fantasy for the Commonwealth to replace the EU as the UK’s main trading partner. That may still be a fantasy, but Theresa May’s government sees the organisation, which includes Australia, Canada, Ghana, India, Nigeria, Pakistan and...
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2018/04/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Arms Trade
(London Review of Books, London, 26 April 2018) Arms exports constitute around 1.6% of total UK exports in value but receive 50% of export credits in the form of loans or guarantees, underwritten by the taxpayer. Almost half of British arms exports go to Saudi Arabia, up fivefold since the...
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2018/04/30
Country: Russia
Issue: Arms Trade
(PanARMENIAN.Net, Yerevan, 29 March 2018) Russia will begin supplying arms to Armenia under a new defense loan agreement worth $100 million in 2018. In June 2015, an agreement was signed to provide Armenia with a Russian state export credit worth $200 million to purchase Russian-made military...
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2018/04/30
Country: Germany, Turkey
ECAs: Euler Hermes Deutschland AG
Issue: Human Rights
(Financial Times, London, 28 April 2018) President Recep Tayyip Erdogan has brought forward by a year and a half elections he intends will crown his quest for one-man rule in Turkey. One reason for the snap early election is that Turkey’s overheating economy is vulnerable. The president needs...
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2018/04/30
Country: Germany, Norway
(Maritime Executive, Fort Lauderdale, 25 April 2018) The German bank KfW IPEX-Bank has become the first German bank to join the Responsible Ship Recycling Standards initiative. With a lending volume of EUR 13.9 billion ($17 billion) in 2017, KfW IPEX-Bank is one of the top five ship financiers...
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2018/04/30
Country: France, Germany, United Kingdom
Issue: Aircraft
(Reuters, Paris, 27 April 2018) Airbus has received European export credits for the first time since public funding was suspended in 2016 at the outset of a corruption investigation, the company said on Friday. The credit was granted under enhanced compliance procedures agreed between Airbus...
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2018/04/30
Country: Russia
Issue: Nuclear
(UzDaily, Tashkent, 20 April 201) Uzbekistan plans to sign an agreement with Russia on construction of a nuclear power plant in 2018. Currently, Rosatom is building a similar station in Bangladesh at a cost estimated at about US$13 billion, of which US$11.3 billion is provided by Russia as a...
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2018/03/31
Country: Germany, Turkey
ECAs: Euler Hermes Deutschland AG
Issue: Arms Trade, Human Rights
(Handelsblatt, Berlin, 7 March 201) Turkey and Germany recently agreed to try to “normalize” their fraught relationship. Turkey had adopted hostage-taking as an instrument of foreign policy, with Germany being a target. Germany’s response was to reconsider economic aid and export credit...
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