Vneshtorgbank, which services Russia's foreign trade, and the Export-Import Bank of Korea have signed an agreement on cooperation, the press service of the Russian bank reported. The document was signed by Young-Hoi Lee, the Chairman and President of the Korean bank, and Vladimir Dmitriyev, the Deputy Chairman of the Russian bank.
The agreement envisages the opening of a $30m line of credit for two years for Vneshtorgbank to carry out documentary operations for imports of Korean products.
In the near future the banks are expected to sign a framework agreement on financing trade, which is to broaden the set of instruments that will be used to make foreign trade payments, the press service specified.
An explosion of household gas occurred in a nine-storeyed apartment building in the city of Shakhty, the Rostov region of Russia. The blast destroyed two storeys of the building