RussiaEconomic Statistics

Importing from Russia

Russia’s main export is oil and natural gas which in recent years has accounted for as much as 70% of total exports, the vast majority of which goes to Europe. The health of the country’s economy is dependent on oil exports, while Europe, is mainly dependent on Russia to satisfy its energy needs.

Russia also has a large and sophisticated arms industry, second only in size to the United States, and is the third largest generator of nuclear energy in the world.

Importing from Russia: What is trade finance?

Export finance is a revolving facility which alternative lenders offer – it enables firms to buy goods and can help ease cash flow problems.

Generally, an export finance bank will fund up to 100% of the cost of the stock, including charges (e.g. taxes).

Trade finance offers benefits over more traditional bank funding for example asset finance or business loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?
If you’re an organisation importing or exporting stock supplies around the world, then a trade finance facility would assist your company to fund this through offering a LC (letter of credit) or some form of cash advance.

I’m looking to import from XXX, how can Trade Finance Global help, and how does it work?
If you’re looking to import goods from other markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative finance bank would act as the intermediary, paying the foreign exporter on your behalf until you receive the products and have then sold them to your customer. Repaying the funder then happens over an agreed period of time.

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Speak to our trade finance team