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UN, Russia Reps to Discuss Grain Deal

RUSSIA
  • President Putin plans to meet top business leaders this week for the first time since he launched the invasion of Ukraine, Bloomberg report. The March 16 gathering with the top members of the Russian Union of Industrialists and Entrepreneurs (RSPP) comes as the government, struggling to cover rising spending as the war enters its second year, is stepping up pressure on companies to pay more in taxes.
  • UN and Russia representatives will hold consultations in Geneva on the Black Sea Grain Initiative, which has enabled shipment of crops from war-torn Ukraine and is set to expire on March 18. The Ukrainian part of the grain deal is working effectively, while Russian agricultural exports continue to be blocked as a result of unilateral Western sanctions, Russian Foreign Ministry Spokeswoman Maria Zakharova said on Sunday, commenting on the potential extension.
  • There are no major economic releases on the docket today, with the CBR rate decision taking focus on Friday.

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