Russia decided to stop the export of grain and sugar to the Eurasian Economic Union countries in order to ‘protect the domestic market constrained by external factors’. While grain exports were stopped until 30 June, it was reported that sugar exports were stopped until 31 August.
The ongoing war between Russia and Ukraine resulted in the imposition of massive sanctions against Russia. While Russia did not take a step back after the sanctions, it started to apply similar sanctions to the Western world. Today, another important news came from Russia.
Russia, which is one of the world’s largest grain exporters and Turkey is one of its biggest customers, To the countries of the Eurasian Economic Union (Belarus, Armenia, Kazakhstan, Kyrgyzstan) grain and sugar exports temporarily banned. Russian Prime Minister Mikhail Mishustin stated that the ban covers exports of wheat, rye, barley and corn and until 30 June announced that it will be implemented.
The aim is to ‘protect the internal market’
However, according to the signed decree, exports of white and raw sugar to the said countries until 31 August prohibited. On the other hand, it was stated that the special export license will continue to be distributed to traders within the current quota system. According to Reuters, this measure ‘protecting the domestic market constrained by external factors’ taken for.
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Source :
https://www.reuters.com/business/russia-may-suspend-grain-exports-until-june-30-interfax-2022-03-14/