News Updates MEDITERRANEAN/MIDDLE EAST COMMENTS Syria is said to be having some success with its plans to pay for grain imports using blocked funds in foreign bank accounts. While this program has taken some time to get implemented because of the complicated procedures and approvals, it now seems that some European governments and banks are being more cooperative. Trade reports indicate that the Syrian government is now able to pay for 500,000 MT of wheat that had been purchased by the official authority (Hoboob) and as much as 150,000 MT have now been paid for from blocked funds and shipped. Close to 250,000 MT are expected to load from France in coming weeks. The payment funds are still blocked overall and can only be used for imports...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
Key Takeaways: Grain futures pulled back sharply in overnight trade Friday on rumors that Ukraine proposed two possible options for ensuring civilian vessel safety in the Black Sea. Both Russia and Ukraine have recently targeted civilian vessels carrying oil and grain in the Sea of Azov...
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