MOSCOW: Russia’s and Egypt’s leading commodity exchanges plan to cooperate more closely, with a view to setting up a potential new grain exchange within the wider BRICS group, the head of Russia’s SPIMEX exchange said late on Thursday.
Russia, the world’s largest wheat exporter, has been pushing to establish the exchange as part of a broader plan to create new financial instruments, detach its trade from the US dollar and help Moscow to combat Western sanctions.
“In general, all of this can be viewed both as bilateral Russia–Egypt relations and as the creation of a BRICS exchange,” Igor Artemyev, head of Russia’s SPIMEX exchange, told reporters after the signing of a memorandum of understanding with Egypt’s EMX.
Under the memorandum, the parties plan to simplify exchange-trading procedures and explore possibilities for mutual exchange access for brokers and companies of both countries.
Russian President Vladimir Putin has said that BRICS countries, which are among the world’s largest producers of grains, legumes and oilseeds, could establish such an exchange, potentially expanding it to trade other major commodities.
The plan to create the exchange was approved by leaders of BRICS countries, which include Brazil, Russia, India, China, South Africa and Egypt, among others.
Russian and Egyptian commodities exchanges plan closer cooperation
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Russian and Egyptian commodities exchanges plan closer cooperation
- Russia has been pushing to establish the exchange as part of a broader plan to create new financial instruments
- “In general, all of this can be viewed both as bilateral Russia–Egypt relations,” said Artemyev
Russia hits Ukraine with drones, missiles, kills at least 10 in Kharkiv
- Zelensky said that Russia launched 480 drones and 29 missiles targeting the energy sector and railway infrastructure
- “There should be a response from partners to these savage strikes against life“
KHARKIV, Ukraine: Russia launched a barrage of drones and missiles at Ukraine overnight on Saturday, damaging infrastructure and killing at least 10 people, including two children, in the northeast city of Kharkiv, Ukrainian officials said.
Ukrainian President Volodymyr Zelensky said that Russia launched 480 drones and 29 missiles targeting the energy sector and railway infrastructure across the country.
“There should be a response from partners to these savage strikes against life,” Zelensky said on the Telegram app.
“Russia has not abandoned its attempts to destroy Ukraine’s residential and critical infrastructure, and therefore support should continue,” Zelensky said, urging partners to continue air defense and weapons supplies.
Ukrainian air defense units shot down 453 drones and 19 missiles, the air force said. But nine missiles and 26 attack drones hit 22 sites, it said.
BALLISTIC MISSILE SLAMS INTO RESIDENTIAL BUILDING
The city of Kharkiv was targeted by both Russian drones and missiles, and 10 people, including two children, were killed after a Russian ballistic missile slammed into a five-story residential building, Kharkiv mayor Ihor Terekhov said.
“When we arrived here 20 minutes after the explosion, I thought I was going to have a stroke. I couldn’t string two words together, and my legs were buckling,” Hanna, a resident of the destroyed building, told Reuters.
“It’s good that I wasn’t there with my child and that my father was with me. It was ordinary people who lived there. What were they targeting?“
Russia’s Defense Ministry said its forces carried out massive overnight strikes on Ukrainian military-industrial complexes, military airfields and energy facilities, the Interfax news agency reported.
In Kharkiv, 15 people were also wounded, and 19 residential buildings were damaged by the Russian attacks, Syniehubov said.
Commercial and administrative buildings, electricity distribution lines, and cars were also hit, he said.
In Kyiv, three people were injured, and the heating was knocked out in 2,806 residential apartment buildings in four districts across the capital after Russian strikes hit an energy infrastructure facility, Prime Minister Yulia Svyrydenko said.
National grid operator Ukrenergo said that emergency power cuts were introduced in seven regions following the Russian attacks.
Ukrainian officials said that Russia also attacked four railway stations and other railway infrastructure in central Ukraine and port infrastructure in the southern Odesa region, setting on fire containers with vegetable oil and damaging a grain warehouse.
