Kremlin trying to secure its Black Sea grain exports as Ukrainian strikes bite
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Reuters
Moscow’s efforts to mitigate the impact of strikes on Black
Sea infrastructure come as global grain importers fear supply disruptions
during the peak export season, Reuters reported
on Aug. 24.
“Tit-for-tat attacks by Russia and Ukraine, both major grain exporters, on ports and vessels in recent weeks have shuttered grain terminals and forced shippers to delay or cancel loadings for dozens of cargoes during the peak export season,” the report said.
“President Vladimir Putin acknowledged last week that Russia was experiencing problems with its agricultural exports, but said it would resolve them. The Kremlin chief also pledged that there would be no shortages on global markets.”
The dictator said Russia plans to export about 60 million tons of grain this season.
At the same time, the SovEcon consultancy estimates that Russian grain exports will rise slightly in August to 2.2 million tons, from 1.95 million tons in July. That would still represent a decline of more than half from the 4.5 million tons exported in August last year.
The Russian government is reportedly considering state grain purchases, extending subsidized loans, and subsidizing sales to offset major disruptions to exports.
According to Russian Agriculture Minister Oksana Lut, the
three largest Russian grain terminals at the Black Sea port of Novorossiysk
have suspended operations after sustaining damage. Russian exporters are
therefore seeking alternative routes through the Baltic Sea, the Caspian Sea,
and the Far East.
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