grain in rubles grain corridor

Turkey Bought Grain From Russia in Rubles for the First Time

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Russian Deputy Prime Minister Viktoriya Abramchenko stated that for the first time this year, they are selling grain in rubles to one country and that country is Turkey. Abramchenko added that this is an ‘experiment’ rather than a general practice for the time being.

An experiment

According to Sputnik Turkey, Russian Deputy Prime Minister Abramchenko said on Russian NTV television, “This fall we conducted an experiment. During one of our (grain) sales, transactions were made in rubles. The country where we made this sale was Turkey,” Abramchenko said.

“But for now, I must say that this is an experiment rather than a general practice,” the Russian Deputy Prime Minister added, noting that his country has sold 21 million tons of food products and 14.5 million tons of fertilizers this year.

Abramchenko also noted that Russia currently exports food products to 150 countries, mostly countries with growing populations. Abramchenko added that these are ‘friendly countries’ that do not impose sanctions against Russia.

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“Despite the sanctions imposed on us, the logistics war against us, the ban on transactions and our exclusion from international banking systems, we continue to sell food products and mineral fertilizers. it is not easy, but we are overcoming difficulties,” Abramchenko said.

Sanctions are imposed to Russia after they occupied their neighboring country Ukraine. After the occupation of Ukraine by Russia the production and supply disruption caused by the conflict has resulted in massive price increases for a wide range of commodities, from natural gas to wheat and cotton.

Before the invasion, the EU’s dependence on Russia was 29.9 percent for crude oil, 46.7 percent for coal and 41.1 percent for natural gas. According to the IMF’s July 2022 report, supplies from Russia in 2022 are 60 percent lower than in 2021 due to mutual sanctions.

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