Russia demands rubles for grain exports

Moscow has expanded the list of products that must be paid for in Russian currency

The Russian government has added cereals, sunflower oil and extracted flours to the list of exports that must be paid for in roubles. A resolution giving effect to the decision was adopted on Friday and posted on the official legal information portal.

It also provides for a one-year extension of duties to be paid in national currency on exported sunflower oil and sunflower meal until August 31, 2023.

Under the new payment mechanism, the base price for calculating the export duty on wheat will be 15,000 rubles (over $267) per ton.

Russia is the world’s largest wheat exporter and a major supplier of sunflower seeds. Russian Agriculture Minister Dmitry Patrushev said this month that the country would only export agricultural products to « friendly countries ».

According to the minister, Russia’s grain harvest could reach 130 million tonnes this year, which would be enough to cover both domestic needs and ensure export potential.

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