Russia limits exports of grains to ex-Soviet republics

Russia limits exports of grains to ex-Soviet republics

Russia limits exports of grains to ex-Soviet republics

Russia has introduced restrictions on the export of grains, of which it is a major supplier, to four former Soviet countries to secure domestic supplies and avoid a spike in prices.

“Russia is introducing a temporary ban on the exportation of grains to the countries of the Eurasian Economic Union,” the government’s press service said in a statement late on March 14.

The EEU is a Moscow-led trade club of ex-Soviet republics, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

The Russian government also said it would stop exports of “white and raw cane sugar to third countries.”

The restrictions on grains exports expire on June 30 and those on sugar on Aug. 31, said the government, adding that the decision was taken “to protect the domestic food market given the situation of external restrictions.”

Western nations have imposed a panoply of sanctions on Russia over its invasion of Ukraine that make it difficult to import goods into the country.

The government’s decision provides for certain exceptions, including for humanitarian shipments, following approval by the agricultural ministry.

The Russian restrictions on grains exports include wheat, silage, rye, barley and corn.

Both Russia and Ukraine are major wheat exporters and the conflict has already sent waves through global commodities markets and seen prices for grain climb precipitously.