The Russian Ministry of Agriculture proposes a new export program, payments through the national clearing center – document

This content was produced in Russia, where the law limits coverage of Russian military operations in Ukraine.

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MOSCOW, March 20 (Reuters) – Russia’s Agriculture Ministry on Monday proposed a new regime for foreign trade in agricultural exports, with payments through the country’s national clearinghouse, according to a document posted on a Russian government website.

Under the scheme, foreign buyers of Russian grain will apply for ruble and foreign currency accounts with the country’s national clearinghouse.

Eduard Zernin, head of the Union of Grain Exporters of Russia, said the new regime was not exclusive and transactions could still be made in foreign currencies, as before.

In comments to Interfax, which were reposted on the union’s official Telegram channel, he said it was likely a way to guard against further toughening of sanctions on Russia’s military campaign in Ukraine.

(Reporting by Reuters; Editing by Tom Hogue and Louise Heavens)

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