Russia eyes Egypt as hub for grain and energy exports

Russian President Vladimir Putin has suggested that Russia could establish a new ‘grain and energy hub’ with Egypt, serving as a centre for the distribution of commodities to Africa and the Middle East.

He raised the idea during a meeting with Egyptian Foreign Minister Badr Abdelatty, although no specific details have been disclosed.

Egypt is assuming an increasingly important role in Russian exports, particularly in the grain sector. The country is the world’s largest importer of wheat and the main buyer of Russian supplies.

According to available data, it has already purchased around 7.6 million tonnes this season. At the same time, however, it faces potential complications in the fuel sector, as Russia has restricted petrol exports.

(reuters, pir)