Russia temporarily bans grain exports to former Soviet countries
Categories: FOREIGN COUNTRIES
Russia on Monday temporarily banned grain exports to ex-Soviet countries and most sugar exports, but a senior minister said it would keep on providing special export licences to traders within its current quota.Russia is the world's largest wheat exporter with Egypt and Turkey among the main buyers. It competes mainly with the European Union and Ukraine. Prime Minister Mikhail Mishustin on Monday signed an order banning the export of white and raw sugar until Aug. 31, and banning wheat, rye, barley and maize exports to neighbouring Eurasian Economic Union states until June 30.Deputy Prime Minister Viktoria Abramchenko, however, said the export of grain within the quota under individual licences would continue to be allowed The measures were adopted "to protect the domestic food market in the face of external constraints," the government statement said.European wheat prices rose on Monday after Interfax news agency reported on Russia's bank on grain exports. It did not initially mention the exclusions from the ban.The government made no mention of the export licenses in its statement either but said that international transit of grain via the Union would be allowed.