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War changing Black Sea grain industry landscape

Russia’s invasion of Ukraine promises to change the grain industry landscape in the post-Soviet space, and possibly in the entire world, especially if Russian forces would prevail. In addition to severe economic sanctions, Russia now faces an unprecedented exodus of foreign businesses. As of late March, more than 400 companies have decided to voluntarily suspend operations in Russia. Foreign customers abandon Russian goods such as oil, natural gas, food and vodka. Never in modern history has an economy of Russia’s scale been subjected to such extraordinary ostracism.  There are already signs that Russian grain exports may be in trouble this year. The demand for Russian grain this season is not expected to be huge, Eduard Zernin, head of the Russian Union of Grain Exporters, said.