Russia temporarily stops grain exports

According to the press-service of the Russian Ministry of Economic Development, the Government of Russia has temporarily banned the export of grain crops to the countries of the Eurasian Economic Union (EAEU).

The restrictions will affect wheat, rye, barley, and corn. An exception will be made for supplies under licenses issued by the Russian Ministry of Industry and Trade.

“Russia is currently provided with grain by 150%. At the same time, a temporary ban on exports will prevent the overflow of agricultural products, taking into account that the EAEU countries have already purchased the necessary volumes in the duty-free regime this season,” the Ministry of Economic Development of Russia said in a statement.

Source: TASS