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 harvested 2.1 mln tonnes of grains – Ministry of Agriculture
July 3, 11:00
Russia: export prices for new crop milling wheat increased
July 2, 12:20
In 2014/15 MY, Russia significantly increased grain exports to Iran and Azerbaijan – Rusagrotrans
July 2, 11:50
Rosselkhoznadzor to tighten control on food imports to the territory of the Crimea
July 2, 10:10
Russia: Ministry of Agriculture allowed beginning of grain purchasing interventions of the new season
July 1, 15:10
Russia: Ministry of Agriculture to possibly decrease the forecast of grain harvest, due to the weather conditions
July 1, 12:50
Russia: new mechanism for calculation of the export duties on wheat
July 1, 11:00