The U.S. and EU imposed sanctions against several energy companies and banks, including state-owned Rosselkhozbank.
Economist mark Melatos from the University of Sydney, believes that the Bank is now more advanced features, but it provides letters of credit to help engage in international trade. Any restrictions and sanctions against certain Bank that create obstacles for any operations of international trade.
At the same time, member of the Supervisory Board of "Rosselkhozbank" Mikhail Eskindarov believes that U.S. sanctions will not have a material effect on the operations of Rosselkhozbank.
"I think the Bank easily make it through this period and will assume their functions on development of agricultural and agro-industrial complex, as before".
"About borrowing fully admit that, like all other banks, which were hit by sanctions, Rosselkhozbank may apply to the government with a request for support, and this is normal", - said Eskindarov in an interview with RBC.
Sanctions can affect the world price of wheat, but it is unclear in which direction. We do not know when the sanctions will come into force.
If before the entry into force have time, you can assume that traders will try to liquidate their positions on the Russian wheat and will try to sell the Russian wheat from Russia to circumvent sanctions. In this case, the likely reduction of prices on the international grain tenders with participation of Russian wheat.
If time prior to the introduction of sanctions remain, says the publication ABC News, then the result can be difficult to predict. It can be expected that rates will rise because Russia and Ukraine will experience difficulties in trade, related to the political situation and the difficulties in payments. If the wheat from Russia will be unable to access international markets, we can expect a major increase in global prices and a similar drop of prices in Russia.
This season in Russia is expected to record wheat crop at the level of 50 million tons, 20 million of which will go for export. FAS USDA (U.S. Department of agriculture) June 30, raised its forecast of grain production in Russia up to 94 million tons. Russia and Ukraine are the main competitors of the USA, Canada, France and Australia on the world wheat market.
Translated by service "Yandeks.perevod"
