Russian grain union wants to switch export payments to rubles ...News

Russia Today - Economy
Russian grain union wants to switch export payments to rubles
source : Russia Today ( News ) () 24
Western sanctions prompt agriculture exporters to find solutions to minimize risks The Russian Union of Grain Exporters (Rusgrain) has turned to the Bank of Russia to get the necessary tools to start selling domestic produce for rubles. The measure was discussed at the regulator’s meeting with the alliance, according to the list of initiatives obtained by business daily Kommersant. Rusgrain, which accounts for more than 70% of Russian grain exports, has asked the regulator to provide ruble liquidity for foreign banks that serve the buyers of the country’s grains. The current contracts currently permits all transac

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