Agriculture Department and banking officials said they could not recall a previous instance in which a major guaranteed agricultural-export loan had been claimed entirely by foreign banks.
On the same day the Export-Import Bank approved the Chernogorskoye loan, it signed a memorandum of understanding with Russia to secure a "framework agreement" for oil and gas-related lending to that country.
And if Petrobras ever does utilize the loan facilities provided by the Export Import Bank, it is good for US companies who will get orders for goods and services, and good for Petrobras who will use those goods and services to pump out more oil for Brazil, and the world.