The principal under the guarantee is a Russian legal entity, 100% of whose shares or shares in the authorized capital belong to the state. It is entrusted by the Government of the Russian Federation with the functions of export insurance support — insurance of export credits and investments against business and political risks under insurance or reinsurance contracts.
The principal's activities are based on resolutions of the Government of the Russian Federation No. 964 dated 22.11.2011 and No. 788 dated 30.04.2022, as well as other acts regulating the functions of export insurance support. The approved rules establish the features that apply on top of these basic documents.
The rules fix three key blocks: the procedure and conditions for granting a state guarantee, the procedure and conditions for fulfilling obligations under it, as well as a list of documents that the principal must submit to obtain a guarantee. The last point directly determines the administrative burden on the authorized organization when applying for government support.
For exporters working with foreign counterparties from the BRICS countries and other markets with increased country risk, the state guarantee mechanism is of practical importance: it supports the solvency of the insurer of export credits and thus preserves the availability of insurance tools for businesses. If the insurer assumes the risks of large export contracts, the state guarantee acts as a financial buffer that reduces the likelihood of insurance coverage being denied due to lack of equity.
Approval of rules for a specific year is standard practice for state export support tools. Exporters planning to insure loans or investments in 2026 should check with the authorized insurer in advance the current list of documents and the deadline for submitting applications, since these parameters are now fixed by the new rules.
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