According to sources, Agriculture Minister Dmitry Patrushev has stated that, Russia may start providing trade credit to grain importers as sanctions placed on Moscow when it dispatched troops to Ukraine had an effect on this financial instrument.
Russia, the world’s largest wheat exporter, works with Exim bank and the Russian organization for export finance and investment insurance. In a conversation with the RBC business on Monday, Patrushev stated that his goal was “to provide finance to international enterprises for the acquisition of Russian products”.
“This will provide us the opportunity to sell a lot of merchandise. “He said agreements up to this point have also had issues”. Patrushev claims that more foreign importers of Russian wheat are now making regular monthly payments in their own currencies or in roubles. Egypt and Turkey are the two nations that purchase the most Russian grain.
In reaction to the reality that farmers were one of those recruited into the military as members of Russia’s partial mobilisation at a busy time of the sowing season, Patrushev further stated that, his ministry will take measures to preserve the proper functioning of the farming industry.
“Of course, within the interests of our department, we would prefer to have more people to work in agriculture, but there are state goals, and they are clearly a priority”, said Patrushev, the son of Russia’s Security Council secretary.
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