The EAEU decided to create a foreign trade insurer: will it help supplies under sanctions
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The prime ministers of the EAEU countries have decided to establish the Eurasian Reinsurance Company (EPC), Russian Prime Minister Mikhail Mishustin said on Friday, August 26, at a meeting of the Eurasian Intergovernmental Council in Cholpon-Ata (Kyrgyzstan).
“The organization will provide insurance support for mutual and foreign trade, stimulate the development of investment cooperation, provide export loans and interaction with credit agencies and insurers,” the prime minister explained. In the future, the company will issue its own securities and participate in project financing, Mishustin added.
The potential reinsurance capacity of the EIC is estimated at about $2 billion, and the statutory fund, formed at the expense of contributions from EAEU members, will be about 15 billion rubles, Iya Malkina, assistant to the chairman of the Eurasian Economic Commission (EEC), said at a briefing.
By order of the Russian government, the Ministry of Finance was asked to pay for the Russian share in the capital of the new company in the amount of 6.75 billion rubles. in 2023–2025 Payment will be made at the expense of budget appropriations.
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