Russia requires payment in rubles for grain shipments

Grain, sunflower oil, and extracted meal have been added to the list of exports that require payment in rubles by the Russian administration. The judgment was made on Friday, and a resolution giving it effect was posted on the official legal information web.

Additionally, it stipulates that until August 31, 2023, tariffs on exported sunflower oil and sunflower meal must be paid in national currency for one additional year.

The base cost used to determine the wheat export tariff under the new payment system is going to be 15,000 rubles (more than USD267) each ton.

The greatest exporter of wheat and a significant source of sunflower seeds is Russia. Dmitry Patrushev, the Russian minister of agriculture, claimed the current month that the nation is only going to sell agricultural goods to “friendly countries.”

The minister estimates that the current year’s grain crop in Russia might total 130 million tons, which could be sufficient to meet both domestic need and secure export potential.

Tags: Russia, sunflower oil, exports, grain, wheat, sunflower meal, tariffs, sunflower seeds, payment, rubles