Russia’s Agency for Export Credit and Investment Insurance (EXIAR) has signed an agreement with the Export Guarantee Fund of Iran (EGFI) to provide export insurance for sellers in both countries.

Export insurance provides an alternative to letters of credit (L/Cs) by insuring an exporter against the risk of not being paid under an export contract or of not being able to recover the costs of performing that contract because of certain events which prevent its performance or lead to its termination.

Sanctions difficulties

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