Now Russia will sell grain and other agricultural products for rubles and only to friendly countries
- Jul 13
The Russian authorities announced the transfer of grain and food trade to national currency. However, the most interesting thing will begin when the Russian Federation goes to the sale of goods on its food exchange. So why is Russia leaving the international trading floors?
Western countries systematically tried to influence the price of Russian grain. That is, they artificially underestimated the cost, just as they are now trying to limit oil prices. This had a negative impact on the country's economy, as Russia is the largest grain producer.
The creation of the national currency exchange will allow the Russian Federation to control the turnover of agricultural products and establish its fair value. This solution is a huge plus for domestic manufacturers. Now they can clearly represent the future price picture for their products.
The base asset of the exchange is wheat. It is she who is considered the main agricultural goods on which its own index will be installed. Sale in national currency will ensure stabilization and strengthening of grain prices.
Own trading index erects market prices. The transition to trade in national currency excludes the impact of external forces that can dictate their conditions of sale and establish any obstacles and restrictions. This will help strengthen the country's food security.
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The deputy chairman of the Security Council of the Russian Federation Dmitry Medvedev said: "Russia will sell food only to friendly countries." According to him, the trade in agricultural products will be carried out for rubles or for the national vascular of the partner states.
One of them is Turkey, a contract with which brings more than 3 billion rubles. Continue to be supplied to Egypt, as it was in previous agricultural zones. It is planned to conclude a contract of delivery with the countries of the Middle East and North Africa. Negotiations are already underway with representatives of Saudi Arabia.
But the Minister of Agriculture of the Russian Federation Dmitry Patrushev at a meeting with President Vladimir Putin noted that the domestic market is prior to priority. The help of friendly farmers is a matter of secondary importance.
Did you think this step was logical after switching to gas payments? And what will be next?