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Russia May Double Wheat Export Tax to EUR 50/ton; New Start Treaty Expires 05 Feb

RUSSIA

LOCAL NEWS

  • Russia considering raising wheat export tax (currently E25/ton) that is set to take effect from Mid-Feb.
    • Grain expert says measure was intended to stabilize domestic grain prices, but has been nearly fully absorbed by external markets.
    • Russia "has no choice" but to consider raising the tax to a level that can have a significant impact on the domestic market.
    • Interfax report yesterday floated E50/ton was being considered.
  • Russia accepts US invitation to take part in Biden's inauguration on 20 Jan - TASS
  • Ex-President Gorbachev expects Biden to extend New Start arms agreement with Russia (expires 5 Feb) 5 years to limit nuclear proliferation at 1,550 warheads.
    • US inclusion of a disinterested China in negotiations caused discussions to stall in 2020, but may resume shortly before the deadline as a positive start to what are expected to be fairly hawkish US-Russia relations - Moscow Times
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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