April 3 2014, 13:30 Source: APK-Inform Views: 1513

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.


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