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Russian Troops May Withdraw from Dnipro River Region, Grain Export Quota to Increase

RUSSIA
  • Russian authorities are considering a major withdrawal of their forces from the area west of the Dnipro river," according to the U.K. Defense Ministry. As all the permanent bridges are badly damaged, Russian forces would "rely heavily on a temporary barge bridge" they built near Kherson recently and military pontoon ferry units, wrote the U.K. Defense Ministry.
  • Bloomberg report that Russia’s wants to effectively remove limits on grain exports in the second half of this season after a bumper harvest and a slow start to shipments left wheat piling. Minister Patrushev said Russia “tentatively” plans a grains quota of 25.5 million tons from February to June, according to Tass.
  • Russia yesterday revived sales of floating rate bonds with the Finance Ministry selling all $405m of floating-rate notes on offer in what was the first of such an auction in two years. The authorities last month sought to restart domestic debt placements following their suspension due to the Ukraine invasion, only to halt plans amid heightened volatility, Bloomberg say.
  • PPI data crossed yesterday well below expectations, printing at 3.8% Y/Y vs. 5.5% expected.

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