Russia to delay grain export agreements

Russia will delay bilateral grain export agreements due to the postponement in allowing it to join the World Trade Organization.

The government has created a working group to draw up a list of contracts to be delayed.

According to Maxim Medvedkov, the head of the department of the Ministry of Economic Development, the matter concerns only contracts connected with trade shipped by cargo.

Russia exports nearly about 2 million of tonnes of grain to Europe each year.

European supplies are not expected to be significantly affected without Russian grains.