MOSCOW: The European Union’s sanctions on vessels transporting Russian grain, along with Turkey’s wheat import ban, impacted Russian grain exports at the end of 2024, the country’s central bank said on Thursday.
The EU sanctioned 79 vessels, including four accused of undermining or threatening “the economic subsistence or food security of Ukraine, such as the transport of stolen Ukrainian grain.”
Russia currently holds about 20% of Ukrainian territory, with the four regions it officially calls “the new territories” accounting for about 5% of Russia’s total grain harvest, estimated at 130 million metric tons in 2024. In its balance of payments report, the central bank noted the increasing pressure of Western sanctions on Russian exports, which fell by 2% in 2024.
Russia is the world’s largest wheat exporter. “The EU has added more than 50 vessels to the sanctions list, which are subject to a ban on entering ports and receiving services, including those transporting grain,” the central bank said.
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