Export credit bureaus of the United Kingdom, the United States and Canada (ECA) announced on Tuesday that they were withdrawing financial support of exports to Russia and Belarus.
In a joint statement, the agencies said they were “disappointed by the unprovoked invasion of Ukraine.”
The UK Export Finance (UKEF), the Export-Import Bank of the United States (US EXIM) and Export Development Canada in a show of united action against the Russian Federation’s attack and Belarus’ support for this illegal invasion (EDC) jointly withdraw any new export financing support for the Russian Federation and Belarus, while retaining support for Ukraine.
“The specific decision builds on the extensive package of sanctions and measures imposed on the Russian Federation and Belarus since the start of military operations and we encourage any Export Credit two countries “.
“Export credits help meet global demand for basic supplies when the private sector is unable to provide sufficient financial support. “We will continue to support Ukraine and ensure that exports from our countries can continue, and we also believe that all government-backed funding for supplies to the Russian Federation and Belarus should be stopped.”
In a show of united support for #UkraineI am proud to announce that the export credit agencies of the US @EximBankUSthe UK @UKEFand Canada @ExportDevCanada, have together withdrawn any new support for Russia or Belarus. More: https://t.co/3nNHES0BIk
– Reta Jo Lewis, 27th US EXIM President and Chair (@EXIMChair) March 23, 2022
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