Western banks to tighten payment terms under the contracts with Russian grain exporters
According to the market operators, as of to date the western banks started tightening the conditions of payments under the contracts with Russian grain exporters. Previously, the reporting measures were took against Ukraine as well.
In particular, the banks make transfer of funds to Russian companies after loading of grain batches on the vessel only.
Most of banks aim for risks minimization within operating with the reporting countries, while using such limitations.
The list of banks, which introduced the tighten payments, includes BNP Paribas, Societe Generale and Banque Cantonale de Geneve.
You should be authorized to post comment
Russia: no single price trend on the export wheat market
Russia harvested 37 mln tonnes of grains – Ministry of Agriculture
Russia: RUR weakness doubled the export duties on wheat — Rusagrotrans
In 2014/15 MY, Russia occupied the 6th position on the world export market of soybean oil
July 29, 16:20
Russia: Government plans to limit palm oil usage in the food industry
July 29, 10:30
Russia to reach the forecasted grain harvest volumes, despite the drought — Ministry of Agriculture
July 28, 15:05