“Eksportfinans ASA” (Norway) opened a credit line of €50 million to “Vneshtorgbank” (Russia) for financing deliveries of industrial equipment from Norway. “Vnetshtorgbank” signed similar agreements with “ABN BANK” (Holland) for €100million and with “Fortis Bank”(Belgium) for €250million. It is significant that in the circumstances of Russia credit rating increase foreign banks are not demanding state guarantees from the Russian government.
Financial structures of EC countries encourage export of European equipment to Russia