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Russian exports can solve global food crisis – UN

Food products and fertilizers from Russia, Ukraine and Belarus must be allowed on the world markets if the global community wants to stem an unfolding food crisis, UN Secretary-General António Guterres said at a ministerial meeting on global food security on Wednesday. “Let’s be clear, there is no more effective …

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India bans wheat exports

India has prohibited all exports of wheat with immediate effect, the country’s Ministry of Commerce and Industry announced on Friday. The ministry said the drastic move was necessary due to “a sudden spike in the global prices of wheat arising out of many factors, as a result of which the …

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German exports to Russia sink – report

German exports to Russia plummeted to about €860 million ($905 million) in March “because of the sanctions imposed,” as well as “further measures to restrict exports, and unsanctioned behavior of market participants,” Germany’s federal statistical office said on Wednesday. That is the lowest level of exports in almost two decades. …

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Japan takes aim at Russia’s exports

Tokyo has unveiled a new package of sanctions against Russia in connection with Moscow’s military operation in Ukraine, Asahi news outlet reports. However, the latest restrictions exclude imports crucial for the Japanese economy, including seafood and energy. The expanded list includes a ban on the import of Russian beer and …

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Russia wants to expand ruble use for energy exports

Russia is planning to increase the use of the ruble in energy exports, but no deadlines have been set for the payment switch, Kremlin spokesman Dmitry Peskov said on Friday. “The president has set a methodical and step-by-step approach to expanding the use of national currencies,” Peskov told reporters in …

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Russia to reap huge profits from energy exports — media

Russia’s energy revenue is expected to skyrocket this year if trading partners continue purchases of oil and gas from the sanction-hit country. Russia will get an estimated $321 billion in energy exports in 2022, marking a surge of more than a third compared to last year, according to a Bloomberg …

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All Russian exports could soon be in rubles

Kremlin spokesman Dmitry Peskov indicated on Wednesday that all of the nation’s energy and commodity exports could be priced in rubles. Moscow has already demanded that gas exports to hostile countries should be paid for in the Russian currency. Peskov was asked about the comments by parliament speaker Vyacheslav Volodin, …

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Australia bans exports of aluminum ores to Russia

Australian authorities have prohibited all exports of alumina and bauxite to Russia in a bid to limit Moscow’s capacity to produce aluminum, according to a joint statement from several ministries, including the prime minister’s office. “Russia relies on Australia for nearly 20% of its alumina needs,” the statement read. “The …

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Russia resumes rough diamond exports to India – media

Alrosa, a partly state-owned Russian diamond mining company, started shipping rough diamonds to India after a pause, the Economic Times reported on Wednesday. According to the outlet, the exporters are using German banks to make transactions in euros due to the sanctions imposed on Russia in the wake of its …

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