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Conmercial Programs-Export Credit Guarantees 



Before the economic situation deteriorated so sharply, the United States 

 provided credit guarantees and other commercial assistance to Russia and the 

 other states of the former Soviet Union. 



Since January 1991, USDA's Commodity Credit Corporation has made available 

 over $5 billion in export credit guarantees under the GSM-102 credit program 

 in connection with sales to purchasers in the FSU including Russia and 

 Ukraine. These guarantees were used to facilitate the purchase of over 33 

 million tons of U.S. agricultural commodities. Commodities purchased include 

 corn, wheat, wheat flour, protein meals, soybeans, vegetable oil, poultry, 

 tallow, rice, almonds, hops, and several processed products. 



In fiscal years 1991 and 1992, some $3.8 billion in credit guarantees was 

 made available in connection with sales to purchasers in the FSU. In fiscal 

 1992, Russia received its own program allocation of almost $650 million in 

 credit guarantees. 



In fiscal year 1993, $800 million in credit guarantees was made available 

 in connection with sales to Russia, of which $525 million was made operational 

 in October. 



