Russia delivered grain to Turkey for the first time in autumn for rubles

Deputy Prime Minister of the Russian Federation Victoria Abramchenko said that in the fall of 2022, Russia for the first time delivered grain to Turkey for rubles. According to her, in just the current year, the Russian Federation exported 21 million tons of food and 14.5 million tons of fertilizers.

“We did the experiment this fall. One transaction went through, and the settlements were in rubles. with Turkey. But for now, this is more of an experiment than a rule, ”said Ms. Abramchenko on NTV (quote from RIA Novosti).

Mrs. Abramchenko specified that Russia currently supplies food to 150 countries. “This is a fairly large number of states, and these are the states where the population is growing the most. And these countries are friendly towards the Russian Federation,” she said.

At the same time, the Deputy Prime Minister noted that the Bank of Russia (CB) continues to work with all friendly countries to apply the settlement mechanism in national currencies.

“That is, despite the presence of sanctions, in fact, a logistical war with us, prohibitions on settlements, disconnecting us from the interbank system, trade in food and mineral fertilizers continues. Hard. We are overcoming these difficulties,” Mrs. Abramchenko concluded.

Union of Grain Exporters at the end of March asked The Central Bank should work out the possibility for foreign buyers of Russian grain to make settlements in rubles under export contracts. On July 6, the head of the United Grain Company Dmitry Sergeev announced about the company’s transition to payment in rubles with partners from friendly countries, in particular with Turkey.

December 15 President Vladimir Putin informedthat the share of mutual settlements in rubles doubled compared to December 2021 and amounted to about a third of the total volume.

Milena Kostereva