Ex-Im Bank Business Development Staff Mr. Brian Sant Angelo Director - Russia, CIS, and Turkey 811 Vermont Avenue, N.W. Washington, D.C. 20571 Ph: (202) 565-3484 Fax: (202) 565-3961 Other Contacts: U.S. Embassy in Russia English-language website Russian-language website The U.S Commercial Service Offices in Russia Russia today is fundamentally a different country from what it was 10 years ago. The country's macro-economic indicators are stronger and healthier than at any time during the last 10 years. The U.S Commercial Service offices in Moscow, St. Petersburg, Yekaterinburg and Vladivostok assist U.S. companies with successful market entry by providing professional market research and customized contact facilitation services. English-language website Russian-language website Moscow Staff St. Petersburg Staff Vladivostok Staff Yekaterinburg Staff

Ex-Im Bank in Russia

Ex-Im Bank Opportunities in Russia

Aircraft, Railway and other Transportation Finance

Ex-Im Bank offers financing support to foreign purchasers of new and used U.S.-manufactured commercial and general aviation aircraft, including helicopters, under its direct loan, guarantee, and insurance programs. The OECD Sector Understanding on Export Credits for Civil Aircraft (OECD Aircraft Sector Understanding) governs the terms and conditions of Ex-Im Bank's financing support for aircraft. Ex-Im Bank also offers financing support to foreign purchasers of new and used U.S.-manufactured commercial and general railroad equipment.

OGFA Program

One of the most successful programs initiated by the Bank has been the Oil and Gas Framework Agreement (OGFA). OGFA was signed with the Ministry of Finance, the Ministry of Fuel and Energy, and the Central Bank of the Russian Federation on July 6, 1993. Under its aegis, Ex-Im Bank has financed in total more than $1.0 billion in exports of goods and services to Russian oil and gas companies. In these transactions, hard currency contracts for the sale of crude or refined product to off-take purchasers located outside of Russia must be assigned to Ex-Im Bank as security for the loan. These product sales agreements must be executed with creditworthy off-take purchasers and be in form and substance acceptable to Ex-Im Bank. Monies paid under these product sales agreements will be deposited directly into a collateral account opened in an offshore bank. This account will be pledged to the lenders as security for the loan. Usually, a security trustee is selected who monitors activities of the collateral account and acts on behalf of Ex-Im Bank and the lenders.

U.S.-Russia Commercial Energy Dialogue

In September 2002, the Export-Import Bank signed Memoranda of Understanding (MOU) with large, private Russian oil companies, OAO LukOil and AO Siberian Oil Company (Sibneft), during the U.S.-Russia Commercial Energy Summit in Houston, which was sponsored by the Department of Commerce. The MOUs expressed Ex-Im Bank's willingness to extend up to $100 million in medium- and long-term financing to each of the three companies, and widened the range of financing options for purchases of U.S. goods and services by facilitating Ex-Im Bank's medium- and long-term loans and guarantees to Russia's energy sector.

Sub-Sovereign

Ex-Im Bank's sub-sovereign initiative allows a local or regional government to serve as a borrower or guarantor for the purchase of U.S. goods and services. Eligible sub-sovereign entities must be rated by an internationally recognized credit rating organization and meet Ex-Im Bank's credit criteria.

Leasing

Ex-Im Bank recently initiated a $4.0 million leasing facility to Europlan (formerly Delta Leasing). Under this program, Russian buyers will be able to lease U.S. equipment through Europlan to expand product lines and/or improve existing products. This leasing facility addresses the critical need for capital faced by small and medium sized companies in Russia.