Prime Minister Mikhail Mishustin announces establishment of Eurasian Reinsurance Company
That will provide insurance support of mutual and foreign trade
When attending the Eurasian Economic Commission, Prime Minister Mikhail Mishustin told about the establishment of the Eurasian Reinsurance Company, according to the RF Government’s Telegram channel.
“EAEU countries have concluded an agreement on establishment of a new business assistance tool - Eurasian reinsurance company, which will provide insurance support of mutual and foreign trade, stimulate the development of investment cooperation, ensure export loans, interaction with credit agencies and insurers. The company is open for new international partners,” the statement says.
Besides, emission of securities and financing of projects is planned.
Previously, a decision to establish zero rates of import customs duties, which let save extensive resources and ensure uninterrupted import of the most demanded goods, according to the statement.
The sanctions, first introduced by the EU and the U.S. in 2014, were significantly expanded after the beginning of Russia’s special military operation in Ukraine in February 2022. They currently consist of a broad spectrum of sectoral measures, including restrictions on finance, energy, technology and dual-use goods, industry, transport and luxury goods.
The EU’s insurance ban was introduced on June 4 and remains in place. It prevents companies in the bloc from writing new insurance for any vessel carrying Russian oil anywhere. Existing contracts remain valid until December 5.
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