Russia imports oil from the UAE due to a sharp rise in prices

Russia is importing butter from Turkey and the United Arab Emirates for the first time in its history to curb the sharp rise in domestic prices.

On Saturday, November 2, Rosselkhoznadzor announced that deliveries of butter from the UAE began on October 18, Reuters reports.

“Previously, there were no deliveries of butter from the UAE to Russia,” the report says.

According to Mash Telegram channel, Russia imported oil from the UAE by ships, via Iran and the Caspian Sea. A trial of 20 tons of oil from Turkey was delivered to Russia via the Black Sea. In advance, Iran, India, Kyrgyzstan and Azerbaijan will soon join the supply.

According to the Russian Statistics Service, the price of a bar of butter has risen by 25.7% since last December. This compared to an inflation rate of 8.6% and caused a wave of butter thefts in Russian supermarkets.

So far, the UAE has shipped 90 tonnes of butter to Russia, which also began importing butter from Turkey in October. The terrorist country seeks to increase the supply of butter to stabilize prices and ensure availability for the domestic market.

Russia’s butter imports from Latin America fell to 2,800 tonnes this year from 25,000 tonnes in 2014, Rossilhospnadzor said, citing Western sanctions as one of the reasons for reduced supplies.

“The decrease in the volume of butter imports from Latin America to Russia may be related to transport and logistics problems, sanctions and the lack of agreements between businesses,” the Rossilhospnadzor said.

Belarus, the largest supplier of butter to Russia, increased its exports by 9% this year to 110,000 tons.

Earlier, USM reported that Russia was delaying the delivery of half a million tons of wheat to Egypt.