Russia has introduced a ban on exports of Russian grain and grain products from August 15th, ITAR-TASS reports, citing the press-secretary of Russian Premier Vladimir Putin, Dmitry Peskov.
Putin said that the action is aimed at preventing domestic price growth and preservation of livestock. He also said that agriculture will receive aid amounting to 35 billion rubles.
The price for futures of grain on the Chicago Grain Exchange rose dramatically, reaching a 23-month maximum. The futures are sold for $7.85 per bushel, Gazeta.ru reports.
