Russia detains 2 wheat shipments to Egypt

Updated 4/7/2024 1:00:00 AM
Russia detains 2 wheat shipments to Egypt

Arab Finance: Russian authorities have halted the departure of two Egyptian ships loaded with wheat destined for export, Bloomberg reported.

This indicates a trade snag due to an internal conflict between a prominent grain trader and the agricultural regulator.

The detained vessels are carrying shipments from Grainflower DMCC, an export partner reportedly associated with Russian trader TD Rif, which has recently come under scrutiny from industry regulators.

Egyptian Minister of Supply and Internal Trade Ali Moselhy told Bloomberg that the ships, supposedly planned to sail in March, were held up in Russian ports due to alleged documentation discrepancies, contrary to plans outlined in a January tender.

 Egypt awaits clarification from Russian embassy officials regarding the matter.

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