Russia to Boost Trade With Egypt After Western Food Ban

Russia will increase exports of wheat to Egypt and imports of other agriculture products from it, Russian officials said on Tuesday as the two countries discussed the potential for free trade.

The move comes as Russia seeks new sources of supply after it banned most food imports from the United States, the European Union, Australia, Canada and Norway last week in retaliation for Western sanctions over the crisis in Ukraine.

“Egypt has already increased (agricultural) supplies to our market by 30 percent (and) is ready to increase (supplies) by yet another 30 percent in the near future,” Russian President Vladimir Putin said after meeting with Egyptian President Abdel Fattah al-Sisi.

Increased Egyptian shipments of products such as potato, onion, garlic and oranges will compensate for up to half of the shortfall of these products caused by the ban, Russian Agriculture Minister Nikolai Fyodorov told reporters in Sochi.

Egypt is the world’s biggest wheat importer and the largest buyer of Russian wheat. The North African country bought 3.6 million tonnes of Russian wheat in the marketing year to end-June.

“Our partners were interested in opportunities for this year’s export,” Putin told reporters. “For Egypt it will be at least 5-5.5 million tonnes.”

Read More: Russia To Boost Trade With Egypt

WHILE YOU ARE HERE…

The mass censorship of independent media is exploding. Our content is being silenced on social media and demonetized by mega-corporations who want to eliminate competition. But you can help us in this fight. Your freedom matters. Your voice matters. You have the power to fight those who seek to silence us.

You are our most important ally.

We need your support now. Donate to help us fight Big Brother censorship.

DONATE NOW