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UN Say Grain Vessels to Move Through Black Sea Corridor Thursday

RUSSIA
  • The United Nations said vessels loaded with grains are expected to move through Ukraine’s crop-export corridor on Thursday, Bloomberg report. The UN had said that ships would be halted on Wednesday after Russia warned that vessels weren’t safe using the route. Though grain vessels continued to leave Ukraine on Monday and Tuesday, the UN said on Tuesday those movements were “temporary and extraordinary.”
  • LNG exports from Russia rose 1.1% year on year in October to the highest level since March, according to ship-tracking data compiled by Bloomberg. The top importing nations were France, China and Japan, the data showed. There currently aren’t any direct sanctions on Russian LNG, but the rise in exports shows how there is still strong demand for the fuel in preparation for winter, Bloomberg say.
  • Elsewhere, Kommersant report that the central bank plans to make it easier for Russian banks to settle with counterparties from “friendly” countries by reducing risk ratios on cross-border interbank loans.
  • Data-wise, retail sales are expected to show a -9.0% contraction compared to -8.8% prior while unemployment is likely to rise slightly to 3.9% from 3.8%. Weekly CPI, construction and cargo data is also on the docket, all crossing at 1600GMT/1900 local time.

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