INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Putin says West must remove restrictions on Russian grain exports

Russian President Vladimir Putin looks on during a joint press conference with his Iranian and Turkish counterparts following their summit in Tehran. AFP
  • Russia's military intervention in Ukraine has hampered shipments from one of the world's biggest exporters of wheat and other grain, sparking fears of global food shortages
  • Cereal prices in Africa, the world's poorest continent, have surged because of the slump in exports from Ukraine, sharpening the impact of conflict and climate change

Russian President Vladimir Putin on Tuesday said that the West must remove restrictions on exports of Russian grain.

“We will facilitate the export of Ukrainian grain, but we are proceeding from the fact that all restrictions related to air deliveries for the export of Russian grain will be lifted,” Putin told reporters in Tehran after talks with the presidents of Iran and Turkey.

Russia’s military intervention in Ukraine has hampered shipments from one of the world’s biggest exporters of wheat and other grain, sparking fears of global food shortages.

“As you know, Americans have lifted — essentially lifted — restrictions on the supply of Russian fertilizers to the world markets,” Putin said.

“If they sincerely want to improve the situation on the international food markets, I hope the same will happen with the supply of Russian grain for export.”

Cereal prices in Africa, the world’s poorest continent, have surged because of the slump in exports from Ukraine, sharpening the impact of conflict and climate change and sparking fears of social unrest.

The United Nations has said Africa faces an “unprecedented” crisis caused by the conflict.