Russian authorities have ordered several agricultural product’s export for rubles

The Russian government has approved a list of agricultural products for export, to which a particular payment procedure is applied. According to the decree of the President of the Russian Federation, from November 1, the following will be sold for rubles through special accounts:

- pork,

- meat and edible poultry by-products,

- milk and cream,

- barley,

- corn,

- wheat,

- soya beans,

- flax seeds,

- sunflower, soybean, and rapeseed oil,

- sugar,

- oilcake and other solid residues obtained during the extraction of fats.

The press service of the Russian government clarifies that when making payments for supplies of such products, special ruble and foreign currency accounts opened by foreign buyers in authorized banks can be used. The decision aims to ensure Russia's financial stability under external sanctions pressure.

Suspension of operations, seizure, or write-off of funds from such accounts is not allowed unless this is related to settlements under a foreign trade contract.

Author: Elina Akhmetova