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Export-Import Bank Fact of the Day

Washington, Jun 9 -

FACT: Two Russian firms targeted with U.S. sanctions due to Russia’s invasion of Ukraine were approved for more than $1 billion in U.S. taxpayer-subsidized financing from the Export-Import Bank.

According to articles in the Wall Street Journal and Investor’s Business Daily, one of these Russian state-owned firms, Vnesheconombank, maintains a close business relationship with a major Russian arms dealer responsible for more than 80% of Russia’s weapon exports, including shipments to Syria.