Beautiful Virgin Islands

Tuesday, Jun 03, 2025

"We Are Replenishing": Russia Starts Stockpiling Grains Amid Sanctions

"We Are Replenishing": Russia Starts Stockpiling Grains Amid Sanctions

Russia's offensive in Ukraine and Western sanctions have disrupted deliveries of wheat and other commodities from the two countries, fuelling concerns about the risk of hunger around the world.
Russia, one of the world's top grain producers, is using export disruptions caused by sanctions to boost its reserves, the chairman of the country's grain union said Monday.

Russia's offensive in Ukraine and Western sanctions have disrupted deliveries of wheat and other commodities from the two countries, fuelling concerns about the risk of hunger around the world.

Russia and Ukraine produce around a third of the global wheat supply.

"Our stocks are nearly 20 percent higher than last year... Instead of supplying the world market, we are replenishing our own stocks," Arkady Zlochevsky told a press conference.

He said Russia will have exported 36 million tonnes of wheat before June 30, about four million tonnes below its full export potential.

"All the information hysteria about the upcoming famine is actually only helping to drive up prices. It's not the best game and it can end badly," Mr Zlochevsky said.

"When the hysteria is over... prices will simply crash," he said.

The Russian government had hinted that this season's harvest could break a historic record, but Mr Zlochevsky said the harvest could be closer to 120 million tonnes of grain (including 80 million tonnes of wheat) rather than the 130 million forecast by the agriculture ministry.

Mr Zlochevsky said that only a "very small volume" of Russian wheat is destined for EU countries and Moscow's deliveries do not transit via Europe but rather through the Middle East.

"We have very strong transit flows through Turkey and Iran... and they remain," he said, adding that Iran this season became the second-largest buyer after Turkey, surpassing Egypt that for many years was a leading buyer of Russian wheat.

The West has accused the Kremlin of using food commodities as a weapon during its military operation in Ukraine and of stealing Ukrainian grain from Russia-controlled territories.

Russia has denied these claims, saying it would create export corridors in Ukraine and help avoid a global food crisis if international sanctions imposed on Moscow were remove
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×