Russian fat-and-oil industry already faced effect from economic sanctions

Source

APK-Inform

2253

Fat and Oil Union of Russia confirms problems with export of products of fat-and0oil industry, director of the Union Mikhail Maltsev said.

“Export of meals by railway toward Baltic countries is under question due to the risk of confiscation of wagons. The same situation with foreign vessels that do not enter Russian ports. The risks of insurance payment due to confiscation, war activity are everywhere”, – he said.

M. Maltsev also noted the lack of financing for feedstock procurement as well as logistical problems.

“Purchases of oilseeds are virtually paralyzed today. Banks do not provide credits. Currency flow is weak”, – he added.

M. Maltsev pointed out that the industry needs 150 mln RUR of credit funds that requires 30 mln RUR of state support.

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