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Turkey pulls plug on issuing licenses to Russian wheat and corn suppliers

March 17, 2017, 12:36 UTC+3 MOSCOW

Turkish importers have informed Russia that Turkey had suspended issuance of licenses for duty-free import

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© Yuri Smityuk/TASS

MOSCOW, March 17. /TASS/.Turkey has suspended issuing licenses for duty-free imports of sunflower oil, wheat and corn from Russia, President of the Grain Union, Arkady Zlochevsky, told TASS.

"There has been no official notification from Turkey but contractors and Turkish importers have informed us that Turkey had suspended issuance of licenses for duty-free import," he said.

According to Zlochevsky, Russian exporters are now obliged to pay a 130% duty, which virtually halts export flows to Turkey. The requirement also covers the contracts already made, he added. Exporters will be forced to grant a discount, should they need to look for new markets, which will take a toll on their revenues, the President of the Grain Union stressed

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