Russia will lift its embargo on grain exports as soon as the situation with the grain harvest becomes clear, according to President Dmitry Medvedev.

    “As for the grain embargo, it is a compulsory but interim measure,” Medvedev told agricultural producers in central Russia on Sept. 6, as reported by RIA Novosti. “As soon as we understand how much we have harvested, the embargo will be cancelled. You shouldn’t even doubt that.”

    Russian Prime Minister Vladimir Putin told a government meeting on Sept. 2 that the ban will be enforced until 2011, Xinhua reports.

    “In order not to create unnecessary nervousness, to secure stability and predictability of business for all market players, I have to stress that the grain embargo cancellation we will be able to be considered only after the crops of the next year are harvested and the grain balance is clear,” Putin said.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.