Russia Will Limit Agriculture Supplies To ‘Friendly’ Countries, Warns Putin Ally

Russia Will Limit Agriculture Supplies To 'Friendly' Countries, Warns Putin Ally
Voiced by Amazon Polly

Since the invasion of Ukraine was initiated by Russia on February 24, there have been rising concerns of a shortage of food such as wheat for the poor countries of the world. 

Now, such a warning has been issued by one of the allies of Russian President Vladimir Putin.

Russia is amongst the largest exporters of wheat in the world. 

Issuing the warning, Dmitry Medvedev, who served as president of the country from 2008 to 2012 and is currently the deputy secretary of Russia’s security council, said that Russia could cut down on its supply of agriculture products to countries that are not “friendly” with it at present and source thee exports to its friendly countries. This was stated in reference to severe Western sanctions on Russia over its invasion of Ukraine – which Moscow has defined as a “special military operation’. 

Given the sanctions imposed, he would like to outline “some simple but important points about food security in Russia,” Medvedev said. 

For years, the majority of them have been a component of the country’s agricultural policy.

“We will only be supplying food and agriculture products to our friends,” Medvedev said on social media. “Fortunately we have plenty of them, and they are not in Europe or North America at all.”

Countries in Africa and the Middle East are the primary export markets for Russian wheat. The main competitors in the wheat trade, the primary competitors of Russia are the European Union and Ukraine.

Also Read: Swedish Startup My Telescope Secures €2.5 Million For Its Market Intelligence Software

Medvedev said that the priority for the Russian authorities current is ensuring food security for its people and controlling the prices of food within the country. Since 2021, grain export quotas and taxes have been used by Russia with the aim of trying to bring down the high rate of inflation of food within the country.  

Agriculture supplies to “friends” will be made in a proportional mix of roubles and their national currencies, according to Medvedev.

Payment currency can already vary depending on the needs of buyers and sellers in each grain export deal. However, Medvedev’s remark follows Russia’s previous demand that international customers pay in roubles for Russian gas.

When Russia annexed Crimea from Ukraine in 2014, it prohibited most Western food imports, but Medvedev said that the list might be expanded further now.

Last month, many multinational companies, such as chocolate manufacturers, ceased sales of their products in Russia.

Also Read: UAE Telco e& And Meta In Partnership Deal To Bring Out ‘Enhanced’ Augmented And Virtual Reality

WANT MORE NEWS LIKE THIS?

Sign up to receive our weekly email newsletter and never miss an update!